Cardiva Medical is a privately held medical device company focused on transforming vascular closure with its VASCADE and VASCADE MVP systems. VASCADE has been PMA-approved by the FDA since 2013 and demonstrated a statistically significant reduction in access-site complications in the randomized RESPECT trial. VASCADE MVP is the only marketed vessel closure technology designed specifically for electrophysiology procedures and received PMA approval in late 2018 after the AMBULATE trial. The company announced a $45 million equity financing to support continued commercial expansion of these systems and to fund other clinical and operational initiatives. Cardiva targets the more than 5.5 million catheter-based coronary, peripheral, and electrophysiology procedures in the U.S. that require access-site closure each year. The company is headquartered in Santa Clara, California, and has received industry recognition including the Shingo Bronze Medallion. Cardiva Medical is a privately held medical device company headquartered in Santa Clara, California, focused on developing and commercializing vascular closure technologies. Its flagship product, the FDA‑approved and CE‑marked VASCADE Vascular Closure System, is commercially available in the United States and demonstrated a statistically significant reduction in access site complications in the randomized RESPECT study. The company is advancing an investigational mid‑bore vein closure system through the IDE AMBULATE trial, which targets 6–12 French access sheaths used in cardiac ablation and other procedures. AMBULATE is a prospective, multi‑center, randomized, controlled study enrolling 204 patients across U.S. sites to compare Cardiva's system to standard manual compression and to shorten time to ambulation. Cardiva reported a high rate of VASCADE sales growth and recently closed on an additional $11 million, bringing total equity and debt financing in the current round to $41 million. Proceeds will fund U.S. commercial expansion of VASCADE and support the AMBULATE trial. Cardiva Medical develops and commercializes the VASCADE Vascular Closure System. The company plans to use new funding to continue commercial expansion of VASCADE and to develop proprietary closure technologies. Cardiva reported a $30m equity financing led by affiliates of Luther King Capital Management, PTV Healthcare Capital and the Canepa Advanced Healthcare Fund. The company is led by President and CEO John Russell. VASCADE demonstrated a statistically significant reduction in access site complications in the prospective, randomized RESPECT clinical trial. The RESPECT study included 420 patients at 20 U.S. centers comparing VASCADE to manual compression for femoral arterial closure. Cardiva Medical develops and commercializes vascular closure technology designed to help the body heal itself following catheterization procedures. Its product line includes VASCADE, a vascular closure system, and the Catalyst II and Catalyst III devices for aiding manual compression. VASCADE received FDA approval in 2013 and CE marking in 2012; Catalyst II and III were cleared by the FDA in 2007 and 2009, respectively. The company says it is ramping up commercialization of its vascular closure products. To support that commercialization, Cardiva has taken on a senior secured credit facility to provide working capital. Cardiva is privately held, was founded in 2002, and is based in Sunnyvale, California. Cardiva Medical develops a vascular closure system and is based in Sunnyvale, California. Its vascular closure system received FDA approval in February. According to an SEC filing dated July 29, the company has raised nearly all of the $3.5 million it was seeking, with only $2,367 remaining to close the deal. About this time last year the company completed the third tranche of a Series 2 financing. The filing lists officers and directors including President and CEO Charles Maroney, founder and former CEO Augustine Lien, and Co‑Founder and VP of R&D Zia Yassinzadeh, among others. The company could not be reached for comment and the article does not disclose revenue, users, or investor details.

Total raised

$102M

Funding rounds

6

Latest round

Equity

Latest activity

Jul 2020