• Respicardia

  Participated · Equity · Aug 2010

  Respicardia develops the remedē® transvenous implantable neurostimulation system to treat moderate to severe central sleep apnea (CSA) in adult patients. The remedē system stimulates the phrenic nerve and engages the diaphragm to restore a normal breathing pattern during sleep. The system received U.S. Food and Drug Administration (FDA) approval in October 2017 and is commencing market release in the United States. Led by President and CEO Bonnie Labosky, the company intends to use the financing to fund U.S. commercialization efforts and to support ongoing development of the remedē system. The company is privately held and advancing clinical and commercial efforts around its approved device. Respicardia is developing the remedē System, a fully implantable stimulation device designed to restore a more natural breathing pattern during sleep for patients with central sleep apnea. The company is in the clinical trial phase and is using the device to address respiratory rhythm management and related cardiovascular risk, including ventricular arrhythmias. Respicardia closed a $6 million senior secured credit facility to provide working capital for completion of its pilot study. Ares Capital served as lead agent on that facility. The company is backed by five life‑sciences venture firms: Three Arch Partners, Versant Ventures, Polaris Ventures Partners, Accuitive Medical Ventures and Affinity Capital Management. Founded in 2006 and headquartered near Minneapolis, Minnesota, Respicardia is focused on advancing its clinical program and completing its pilot study. Cardiac Concepts is developing the RespiCardia System, a pacemaker-like pulse generator implanted beneath the skin near the collarbone that delivers small electrical impulses to the nerve controlling the diaphragm. The company is focused on central sleep apnea (CSA), a condition in which the brain fails to send proper signals to breathing muscles and that the article notes accounts for less than five percent of all sleep apneas. Cardiac Concepts is marketing the device specifically for patients suffering from heart failure, citing CSA’s potential to worsen heart failure and increase mortality. Last month the company enrolled the first 40 patients in a pilot clinical trial that will be conducted around the world, including Europe and the United States. Financially, the company reported a $27.2 million raise from the sale of equity in filings with the U.S. Securities and Exchange Commission. The company is based in Minnetonka, Minnesota.

• Uptake Medical

  Participated · Series B · Jul 2010

  Uptake Medical is focused on the development and commercialization of InterVapor, a non-surgical, endoscopic lung volume reduction system that uses the body’s natural healing processes without leaving implants or foreign material in the lung. InterVapor is the company’s first product and in clinical studies has demonstrated improvements in breathing function, exercise capacity and quality of life. The company received CE mark approval for InterVapor and completed the first commercial use in Germany, and also secured TGA approval to market the product in Australia. Uptake Medical is actively executing commercial strategies to establish InterVapor as a standard of care for severe emphysema. The company is headquartered in Tustin, Calif., and emphasizes continued commercialization and market expansion following regulatory clearances. Uptake Medical is an interventional pulmonology company that develops medical technologies to treat lung diseases including emphysema, a form of COPD. Its core product is a minimally invasive, bronchoscopic catheter-based procedure called Bronchoscopic Thermal Vapor Ablation (BTVA). BTVA delivers thermal vapor to emphysematous lung tissue to achieve lung volume reduction. The therapy causes diseased areas to reduce in volume, allowing remaining healthy lung to expand and function more normally. The company plans to use new capital to obtain the CE mark and introduce BTVA outside the U.S. Uptake Medical has also begun its approval cycle with the FDA in the U.S. and is based in Seattle, Washington. Uptake Medical is an early-stage medical device company developing a bronchoscopic lung volume reduction (BLVR) therapy for emphysema and COPD. Its next-generation interventional pulmonology approach is designed to measurably improve lung function and patient quality of life while avoiding the risks and costs associated with surgery, endobronchial glues, valves and occluders. The company is privately held and based in Seattle. Uptake closed a $9 million Series A equity financing to fund pre-clinical development of its proprietary BLVR technology and to build staff prior to clinical trials. Management and investors position the therapy as a simpler, safer and more cost-effective option intended to be widely accessible to emphysema patients. The article cites the American Lung Association that emphysema affects about three million people in the U.S. and 16 million worldwide.

• Salient Surgical Technologies

  Participated · Series G · Jan 2010

  Salient Surgical Technologies develops and sells surgical devices that use transcollation to control bleeding during operations. The company began as TissueLink Medical and launched in August 1999 after securing an exclusive global license to Medtronic’s "wet" electrode technology. Its transcollation products seal soft tissue using radio-frequency energy and saline, closing vessels up to about 1 mm. The company reported estimated 2008 revenues of $45 million, a 55% increase that year. Salient has completed multiple financings—this is its seventh round over the past decade and its second since it shelved an $86 million IPO in late August 2008—and continues to receive venture and corporate backing. The company is based in Portsmouth, N.H., and Medtronic remains a long-time corporate patron, receiving licensing fees via promissory notes convertible into preferred stock.

• Anulex Technologies

  Participated · Series D · Jun 2009

  Anulex develops and commercializes soft tissue repair systems, including the Xclose™ Tissue Repair System and the Rimclose™ product under feasibility study. The company is advancing post‑market clinical follow‑up for Xclose to generate additional evidence of annulus preservation and repair. Proceeds from the recent financing are intended to expand commercialization efforts and support ongoing research and development. Anulex also plans a feasibility study for Rimclose and further investment in its R&D strategy. The company has secured external investor support to fund these near‑term clinical and commercial initiatives. Anulex Technologies builds devices to repair the annulus tissue around spinal discs, most notably its Xclose tissue-repair device. Last month the company began marketing a next-generation version of Xclose, which uses small braided polyester bands to form an X-shaped stitch over openings in the soft tissue to help prevent re-herniation and speed recovery. The first-generation Xclose was cleared for U.S. use in 2006 and the device has been used in more than 7,300 procedures. Anulex is also developing InClose, a mesh implant intended to provide a scaffold to aid tissue regrowth after surgery. The company has raised about $52 million in total funding since 2003. Recent financing activity and continued product development suggest the company is focused on commercial rollout of its next-generation device and follow-on implant options. Anulex Technologies develops the Xclose, a device that uses small braided polyester bands to form an X-shaped stitch over openings in the soft tissue around the spine. The company says the Xclose will help prevent disc reherniation and speed patient recovery after herniated disc removal. The U.S. Food and Drug Administration has cleared the device for use in general and orthopedic surgeries. Proceeds from the raise will fund completion of post-market clinical trials, bolster U.S. sales efforts, and accelerate research and development. The company is headquartered in Minnetonka, Minnesota, and has raised about $48.4 million since 2003, including the latest round. Anulex previously took a $7 million loan from Silicon Valley Bank in 2008.

• NOVASYS MEDICAL

  Participated · Equity · May 2008

  Novasys Medical's core product, the Renessa System, uses a probe guided through the urethra and radiofrequency energy to treat female stress urinary incontinence as an alternative to surgical treatments. The Renessa System has been cleared by the U.S. Food and Drug Administration. The company competes with other noninvasive and minimally invasive options, such as Uroplasty's Urgent PC, Boston Scientific's urethral bulking agents, and Medtronic's implantable InterStim. The National Association for Continence estimates that 75–80% of the 25 million Americans who suffer stress urinary incontinence are women, indicating a large addressable market. Management listed in the article includes Scott Cramer (president and CEO), Michael Gandy (CFO), and Damian P. Alagia III (medical director and VP of Medical Affairs). The company reported a $3.9 million raise in a regulatory filing, but the article notes the company did not disclose how proceeds will be used and a spokeswoman did not return a call. Novasys Medical makes a medical device intended to treat female stress urinary incontinence. The company’s product is described by its CEO as the only real alternative to surgery for women with the condition. Novasys is based in Newark, Calif. The company recently completed a $49.5 million funding round. The financing was reported in VentureWire alongside a CEO interview about the device. Investors in the round span multiple venture firms and institutional backers.

No current team members are available.