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Sadra Medical Raises $19 Million In Series B Financing
Company makes significant progress in its quest to transform heart valve therapy
Sadra Medical, a privately-held, development stage Silicon Valley firm
dedicated to developing innovative new therapies for aortic valve disease,
has recently completed a $19M Series B round of funding. Oakwood Medical
Investors and Boston Scientific joined the company's Series A investors,
Pequot Ventures, Onset Ventures and SV Life Sciences Advisors (SVLS), in
the financing.
"We are pleased to be backed by the deep experience base of our investors.
Their support will help us in attaining our goal of delivering the best device
possible to make percutaneous aortic valve replacement a viable therapeutic
option for patients in need,” stated Amr Salahieh, President and CEO of
Sadra Medical. "Our momentum is building and we look forward to initiating
clinical evaluation of the Sadra Lotus™ Valve within the next several months.”
Raul Perez, president of Oakwood Medical, observed, "We believe percutaneous
aortic valve replacement will play a significant therapeutic role in the future.
This investment in Sadra Medical reflects the consensus of the group of investors
that the innovative second-generation repositionable Lotus prosthesis developed by
Sadra has great potential.”
Treatment of aortic valve disease remains a significant and growing unmet clinical
need. As many as 3 million people in the U.S. have aortic stenosis; however, only a
small percentage of those are treated with the current standard of care, open-heart
valve replacement surgery, using cardiopulmonary bypass. By delivering a highly
effective aortic valve replacement that reduces the risks and morbidity associated
with surgery, Sadra Medical seeks to provide a therapeutic option for patients who
are not being treated today.
Sadra Medical was founded in 2003 by Amr Salahieh and a small group of leading-edge
cardiovascular clinicians. Board members include Salahieh, Leslie Bottorff of Onset
Ventures, Juliet Tammenoms Bakker of Pequot Ventures, David Milne of SVLS, and Fred
Khosravi, CEO of Access Closure.
Oakwood Medical Investors
Oakwood Medical Investors is a life sciences venture capital firm investing in
development stage medical device, pharmaceutical, and biotechnology companies.
Target portfolio companies for Oakwood have an industry "disruptive" technology,
have demonstrated proof of concept for their lead product and completed a first
round of institutional venture financing. Over the past 16 years, Oakwood's managers
have collaborated on more than 35 life sciences related investments in companies
across the nation. The firm has offices in St. Louis, Missouri and Cleveland, Ohio.
Boston Scientific Corporation
Boston Scientific is a worldwide developer, manufacturer and marketer of medical
devices whose products are used in a broad range of interventional medical specialties.
For more information, please visit: www.bostonscientific.com.
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