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The Venture Codex

BioStar Ventures

560 W. Mitchell Street #500, Petoskey, MI, 49770, United States

Overview

BioStar Ventures is a venture capital company that offers private equity investment services to firms in the medical device technology services industries. It was founded in 2003 by Louis Cannon and is based in Michigan.

Total investments
28
Lead investments
7
Investments · 12mo
2
Active investors
8

Sector focus

  • Finance
  • Venture Capital
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Investment portfolio

  • Versa Vascular

    Participated · Series C · Aug 2026

    Versa Vascular is developing the AdapTR transcatheter tricuspid repair device and a delivery platform designed to support native leaflet function while enabling repositioning, implant control, and atrial device positioning to simplify intraprocedural imaging. The company reported positive clinical results and is conducting a first-in-human study outside the U.S. and planning a U.S. Early Feasibility Study. Versa intends to use recent financing to complete those clinical programs and to continue product development and optimization. Leadership changed as part of the update: longtime Medtronic structural heart executive Bill Shields was named CEO, succeeding David Hovda, who will remain as an advisor. Shields brings experience leading transcatheter mitral and tricuspid programs and product development and clinical studies. The article did not disclose revenue, user metrics, founding year, or location.

  • Field Medical

    Led · Series B · Jul 2025

    Field Medical develops the FieldForce™ Ablation System, a next-generation pulsed field ablation (PFA) platform designed for transmural lesion creation and targeted ventricular tachycardia (VT) ablation. The system pairs breakthrough catheter design with proprietary FieldBending™ energy to enable rapid, targeted ablation. The device is investigational and limited to investigational use under U.S. law. The company plans to use new funding to initiate its pivotal VERITAS trial and to advance FieldForce development while expanding clinical and regulatory capabilities. Field Medical received Breakthrough Device Designation in 2024 and was selected for the FDA TAP Pilot Program for its VT indication. With strong pilot data presented at Heart Rhythm 2025, the company is positioning to address an underpenetrated VT market. Field Medical is developing next-generation pulsed field ablation (PFA) technologies, centered on the FieldForce™ Ablation System and its built-for-purpose, contact-force focal PFA catheter. The system enables an instantaneous ablation workflow with therapy delivered in a fraction of a second and is powered by the company's proprietary FieldBending™ technology that delivers brief, high-intensity electric fields. Field Medical positions the System as a single advanced solution for a full spectrum of cardiac arrhythmias, including ventricular tachycardia (VT) and atrial fibrillation (AF). The company is completing two pilot studies (VCAS for VT and Field PULSE for AF) and advancing toward VERITAS, a planned pivotal trial focused on VT. Financially, Field Medical closed a $40 million Series A that includes $20 million in new capital and the conversion of $20 million in seed-round debt to support clinical programs, commercial development, and operational scale-up. Founded in 2022, the company received FDA Breakthrough Device Designation and was included in the TAP Pilot Program in 2024. Field Medical, Inc. is described as an emerging leader in cardiac catheter ablation and is based in Cardiff-by-the-Sea, California. The company operates in the cardiac catheter ablation space. Field Medical closed an oversubscribed seed round totaling $14M. The financing was structured as convertible notes. The seed was led by private investors and included multiple strategic investors. The article did not disclose revenue, user metrics, prior rounds, founding year, or additional financial terms.

  • Amplitude Vascular Systems

    Participated · Series B · Jan 2025

    Amplitude Vascular Systems (AVS) develops the PULSE IVL™ (Pulse Intravascular Lithotripsy™) platform, an investigational device for treating severely calcified arterial disease. The PIVL™ device is designed to improve deliverability, crossability, and efficiency in challenging peripheral, coronary, and carotid cases by using a mechanism that eliminates electrical emitters. AVS is preparing a U.S. peripheral commercial launch and is conducting multiple IDE trials, including a POWER PAD II U.S. peripheral IDE that began enrolling in October 2024. POWER PAD II is a prospective, single-arm, multi-center study that will enroll up to 120 patients across 20 U.S. sites, with enrollment expected to complete mid-2025. The company is partnering with the Jacobs Institute for a U.S. carotid IDE trial and also plans a U.S. coronary IDE study. AVS is based in Boston, MA and is backed by investors including BioStar Capital, Cue Growth Partners, and others; the PULSE IVL™ System remains investigational and is not yet cleared for commercial distribution. Amplitude Vascular Systems develops the Pulse IVL system, which generates pulsatile pressure waves delivered through a balloon to create multi-directional fractures in intravascular calcium and thereby increase vessel compliance. The device generates energy outside the body and amplifies it without electrodes or lasers in the balloon, yielding a low crossing profile, greater flexibility, and a non-compliant balloon designed to expand vessels without traumatizing healthy tissue. Pulse therapy is delivered at higher frequency and uniformly along the balloon length, aiming to reduce procedure time and the need for ancillary devices. AVS completed a first-in-human study showing benefits in calcific femoropopliteal arteries and recently received FDA IDE approval to begin a 20-site pivotal peripheral trial in the U.S., with a target enrollment of 120 patients. The company plans clinical testing in coronary and carotid indications, aims for a first commercial peripheral product in early 2026, and is developing an AI-powered “Smart IVL” to inform operators of treatment success in real time. Financially, the company raised over $250,000 in non-dilutive grants during early work, a $1.5M initial funding round to transfer technology from the University of Michigan, and secured $29M in a Series B in late 2023.

  • Nectero Medical

    Participated · Series D · Apr 2024

    Nectero Medical is developing the Nectero EAST System, an investigational single-use endovascular system that delivers pentagalloyl glucose (PGG) locally into the aneurysmal wall to bind elastin and collagen and potentially strengthen the aortic vessel wall. The procedure is performed in under an hour, leaves no permanent implant, and does not preclude future interventions; early clinical results from a first-in-human study were published in the Journal of Vascular Surgery. The company initiated a Phase II/III stAAAble trial in January 2024 to evaluate safety and efficacy in infrarenal AAAs (3.5–5.0 cm), and the Nectero EAST System received Fast Track and Breakthrough Therapy designations. Nectero positions the therapy as a potential first approved option for smaller AAAs beyond surveillance if trials are successful. The company cites a large addressable population (over 1M diagnosed Americans and ~60,000 treated annually) and will use recent financing to advance clinical work and regulatory submission. Its lead product aims to offer a minimally invasive alternative to current surveillance or treatments reserved for larger or symptomatic AAAs. Nectero Medical is developing the Endovascular Aortic Stabilization Treatment (EAST), a one-time catheter-based procedure that locally delivers a proprietary compound to stabilize small- to mid-sized aortic aneurysms and leave no implant behind. The EAST system has shown early clinical results and is currently treating AAA patients in a multi-site Phase 1 safety study. The therapy is intended to significantly reduce aneurysm growth rate, prevent rupture, and provide an option for patients who are managed with active surveillance or are ineligible for surgical repair. Proceeds from the recent financing will support in vivo and clinical trials to advance the platform. The company also cites potential broader applications including thoracic aneurysms, aortic dissections, neurovascular aneurysms, and other cardiovascular and connective tissue disorders. The company is based in Tempe, Ariz.

  • MMI

    Participated · Series C · Feb 2024

    MMI's core product is the Symani Surgical System, a first‑of‑its‑kind robotic platform that pairs the world’s smallest wristed microinstruments with tremor‑reduction and motion‑scaling to enable micro- and supermicrosurgical soft‑tissue procedures. The system is designed to replicate natural hand movements at micro scale to expand treatment options for free flap reconstruction, lymphatic surgery, trauma replantations, microvascular and peripheral nerve repair. MMI plans to commercialize the Symani System in high‑growth markets, expand clinical indications through ongoing studies, and grow hospital partnerships to increase surgeon access to complex procedures. The company will also invest proceeds to accelerate advanced technology capabilities and scale global operational capacity. Financially, MMI has raised over $200 million to date and projects the market for eligible robotic microsurgical procedures will grow from 3 million to 22 million annually by 2028; the Symani System is CE marked in Europe but is not approved or cleared for commercial use in the United States. Medical Microinstruments (MMI) develops a robotic system for intricate microsurgical procedures. The MMI system comprises a robotics platform and wristed microinstruments that provide wrist-like joint movement for surgeons. The technology is intended for delicate operations such as reconstruction after traumatic injuries and tumor removal in the breast, head, and bones. Founded in 2015 near Pisa, the team set out to enhance surgical performance and improve clinical outcomes in microsurgery. MMI has signed a financing agreement with the European Investment Bank granting access to up to €15 million, which will be deployed over the next few years. That loan is backed by a guarantee from the European Fund for Strategic Investments, the main pillar of the Investment Plan for Europe. The company previously raised a €20 million Series A round led by Andera Partners in 2018. Medical Microinstruments (MMI) develops a teleoperated robotic platform for suturing in open surgery using wristed microinstruments. The solution enables surgeons to scale motion and eliminate tremor and aims to facilitate existing procedures and enable new ones across microsurgery, including post-oncological and trauma reconstructions, ophthalmology, organ transplantation and pediatric surgery. The platform is an investigational device and is not yet commercially available. Founded in 2015 and based in Calci, Pisa, Italy, MMI was started by Giuseppe M. Prisco, Carlo Alberto Marcoaldi, Hannah Teichmann and Massimiliano Simi. MMI plans to use the Series A proceeds to accelerate platform development, complete product and clinical development, obtain the CE mark and launch in European markets. The company completed a €20M Series A in 2018.

Team

  • Louis A Cannon, MD, FACA, FACC, FACP, FSCAI

    Founder & Senior Managing Director

    LinkedIn
  • Lisa Riedmiller

    Controller

  • David J. Brophy

    Director

  • Renee Masi

    Managing Director

    LinkedIn