• HistoSonics

  Participated · Equity · Sep 2015

  HistoSonics develops a non-invasive therapeutic platform based on histotripsy, a focused-ultrasound technology that uses acoustic cavitation to mechanically destroy and liquefy targeted tissue. Its flagship product, the Edison® Histotripsy System, received U.S. FDA De Novo clearance for the destruction of liver tumors and has seen expanding clinical adoption at academic medical centers and health systems. Use of the system outside the liver remains investigational while the company pursues regulatory clearances for additional organs. HistoSonics has submitted a De Novo request to the FDA for kidney tumors and is advancing toward an anticipated FDA submission for pancreatic applications. The company is focused on commercializing the Edison System in the U.S. and select global markets while expanding indications into kidney, pancreas, prostate and other organs. HistoSonics maintains offices in Ann Arbor, MI, Madison, WI, and Minneapolis, MN, and was valued at $3.75 billion in its most recent financing.

• NeoChord

  Participated · Series C · Jun 2015

  NeoChord develops beating-heart mitral valve repair solutions for patients with mitral regurgitation. Its flagship product, the NeoChord Artificial Chordae Delivery System, enables a minimally invasive procedure on a beating heart without cardiopulmonary bypass or aortic cross-clamping and received CE market clearance in December 2012. In the United States the system is for investigational use only and is limited by federal law to investigational use. Founded in 2007 and led by President and CEO David Chung, the company is based in St. Louis Park, Minnesota. NeoChord plans to use the recent proceeds to accelerate development of its transcatheter chordal repair and edge-to-edge programs. Over the past 12 months the company has raised over $32m in equity. NeoChord is a medical technology company advancing beating-heart mitral valve repair, founded in 2007 by David Chung and based in St. Louis Park, Minnesota. Its flagship product, the NeoChord Artificial Chordae Delivery System (Model DS1000), enables minimally invasive transapical delivery of artificial chordae on a beating heart without cardiopulmonary bypass or aortic cross-clamp. The system received CE market clearance in December 2012 and in the United States is for investigational use only. The company intends to use the funds from the recent financing to accelerate development of its transcatheter chordal repair and edge-to-edge programs. The procedure provides real-time feedback that allows surgeons to precisely adjust chord length to reduce or eliminate mitral valve regurgitation while the heart is beating. David Chung serves as President and Chief Executive Officer. NeoChord, based in Eden Prairie, Minnesota and led by President & CEO David Chung, has developed a proprietary device enabling mitral valve repair on the beating heart using a minimally invasive approach. Its DS1000 device received CE marking in December 2012 for minimally invasive mitral valve repair via surgical implantation of artificial chordae tendinae. The company focuses on advancing clinical and regulatory work for its technology while pursuing commercialization. NeoChord closed a $20M Series C financing to support those efforts. The company will use the proceeds for clinical and regulatory advancements, sales and marketing, research and development, and working capital. The article does not report operating metrics such as revenue or user numbers. NeoChord is a medical technology company developing minimally invasive devices and procedures to treat mitral regurgitation. Its flagship DS1000 System, CE marked in December 2012, enables surgical implantation of artificial chordae tendinae and is approved for sale in Europe but is not available commercially in the United States. The company is also developing NeoNav imaging software and an Edge-to-Edge mitral valve technology; near-term clinical goals include completing enrollment in the TACT Registry and performing First-in-Man procedures for the Edge-to-Edge approach. NeoChord reports it is in-revenues in Europe, with initial reimbursement established in Germany and a rapidly growing queue of surgeons seeking training. Financially, the company completed a $3 million sale of Series B-2 Preferred Stock in March 2013 and later closed a $3 million credit facility, providing additional cash runway to pursue its clinical and product development milestones. The company is based in Eden Prairie, Minnesota. NeoChord is commercializing a minimally invasive cardiac surgery device that places artificial chords in the mitral valve to treat mitral regurgitation while the heart is beating. The procedure is designed to eliminate the need for sternotomy and cardiopulmonary bypass required in open heart surgery. NeoChord holds an exclusive license from the Mayo Clinic; the technology is currently approved only for clinical use. The company recently raised $5 million and is seeking an additional $6 million according to a regulatory filing. Management intends to use proceeds to secure European approval, prepare a U.S. investigational device exemption application, and fund the subsequent pivotal U.S. trial. Investors include Clarian Health Ventures, Heron Capital and TGap Ventures; the company is based in Minnesota.

• Inspire Medical Systems

  Participated · Series E · May 2014

  Inspire Medical Systems develops Inspire Upper Airway Stimulation, an FDA-approved implantable neurostimulation system for some people with moderate to severe obstructive sleep apnea who are unable to use or get consistent benefit from CPAP. The system is implanted and controlled by a small handheld sleep remote and includes a breathing sensor and a stimulation lead that delivers mild stimulation to the tongue and other soft tissues of the throat during sleep. Since FDA approval in April 2014, the company has reached its 1,000th implant and trained more than 100 medical centers that are actively implanting the device; patients use the device an average of seven or more hours per night. Inspire therapy is available at leading centers across the United States and Europe and is on the Federal Supply Schedule. Reimbursement progress includes case-by-case coverage from over 140 private insurers and Medicare reimbursement based on medical necessity in many U.S. geographies. The company plans to use recent funding to drive market adoption and reimbursement, broaden marketing, increase sales and operations, and continue building clinical evidence including an imminent German Post-Market Study and forthcoming 5-year STAR pivotal trial results. Inspire Medical Systems is a Minneapolis-based developer of a fully implanted and FDA-approved neurostimulation system for the treatment of Obstructive Sleep Apnea (OSA). The company launched the Inspire® Upper Airway Stimulation (UAS) therapy in the United States, a fully implanted device for a subset of patients with moderate to severe OSA who are unable to use CPAP devices. The system uses neurostimulation technologies and incorporates a proprietary algorithm that stimulates key airway muscles based on a patient’s unique breathing patterns. Tim Herbert is president and CEO. The company completed a $40M Series E financing and intends to use the funds to hire new people and make sales efforts. The financing supports the company’s commercial expansion of its UAS therapy. Inspire Medical Systems develops implantable Upper Airway Stimulation (UAS) neurostimulation therapy to treat obstructive sleep apnea (OSA). Its device delivers mild stimulation to the hypoglossal nerve synchronized with each breathing cycle to prevent tongue collapse and airway obstruction; patients activate therapy with a handheld programmer. The company completed enrollment and device implants in the STAR pivotal trial, which will form the basis for a Pre‑Market Approval (PMA) submission to the FDA targeted for early 2013. Inspire received CE Mark in 2010 and has completed commercial implants in Germany, Italy and The Netherlands; feasibility study results were published in Laryngoscope in May 2012. The company was formed in 2007 as a spin‑out from Medtronic and is based in Minneapolis, Minnesota. It completed a $14.5 million Series C to support clinical trial follow‑up, U.S. regulatory submissions, and expansion of commercial activities in Europe.

• Revenew

  Participated · Series B · Oct 2013

  Revenew provides a cloud-based technology platform that lets manufacturers, resellers, and industry associations collaborate on distributed marketing initiatives. Users can build targeted customer databases, access and share marketing assets and co-op funds, customize co-branded campaigns, and track performance in real time. The network currently serves more than 45 national brands and thousands of resellers across the consumer electronics, healthcare, and information-technology sectors, with customers such as the Consumer Electronics Association, Lutron Electronics, Nuance Communications, and Samsung Electronics. Led by founder and CEO Nasrin Thierer and headquartered in Palatine, Illinois, the company aims to extend its platform into additional industry segments. Proceeds from its latest financing will also fund deeper functionality and tighter integrations with other marketing systems. This expansion strategy is intended to grow its user base and reinforce its position as an end-to-end distributed marketing solution.

• Regenesis Biomedical

  Led · Series C · Jun 2011

  Regenesis Biomedical develops and markets regenerative medicine products, primarily the Provant Therapy System, which uses pulsed radio frequency energy (PRFE) to reduce pain and edema in post-operative, superficial soft tissues. The company sells to acute care hospitals, long-term acute care hospitals, skilled nursing facilities and outpatient clinics. Led by President and CEO Virginia Rybski, Regenesis holds patents on its Provant system and actively markets the device. The company completed a Series C financing to support growth. Proceeds are intended to accelerate expansion of its sales team to broaden clinical adoption.

No current team members are available.