NEW YORK, Jan. 7 /PRNewswire/ -- Accelerated Technologies, Inc. (ATI), a New York based partnership model for the creation and acceleration of cardiovascular devices into the market, today announced that it received $32 million in funding in its second round of financing. The financing creates an equal partnership in ATI between ABN Amro Capital, Giza Venture Capital and founding investor Oxford Bioscience Partners. The Funding will allow ATI to significantly expand its portfolio of projects and affiliates.
Since its inception in 2001, ATI has created three stand-alone companies and currently supports two seed projects inside the company. ATI represents a unique acceleration model where a group of key opinion leaders are not only consulted, but truly integrated into the opportunity selection, value creation and validation process. This key opinion leader group actually commits a significant portion of their professional time to ATI and meets on a monthly basis.
"We are elated that ABN AMRO, Giza Venture Capital and Oxford Bioscience Partners have come together as equal partners to create a balanced, global partnership for sourcing opportunities and creating companies that will deliver valuable emerging therapies to treat cardiovascular disease," said Jeff Barnes, a Partner at Oxford. "Together as investors, we will provide a built-in syndicate that will allow us to transform fundable opportunities into highly successful entities in an efficient manner. This syndicate will invest in the companies that ATI currently supports and the six companies that ATI intends to create over the next three years."
"We are excited to be backing such a great initiative in the cardiovascular device space through a partnership that is strong and synergistic with our portfolio," said Martien van Osch and Geert-Jan Mulder MD, Directors at ABN AMRO Capital. "We believe that ATI's approach represents a unique opportunity to develop new minimally invasive devices that will both change tomorrow's medical practice and become the basis for better, safer therapies."
"We are delighted to become partners in the future development of the ATI model. The cardiovascular device sector has a strong technology orientation that allows one to create many unique companies with strong intellectual property. This combined with the lower risk of investing in an ATI supported company creates a very attractive package," said Avi Molcho MD, Managing Director, Life Sciences at Giza Venture Capital.
The ATI model provides for acceleration of commercial opportunities with a lower risk profile by preloading the clinical brain trust and the investor syndicate into a company from Day One. The clinical brain trust, which is led by co-founder Martin B. Leon, M.D., supplies engineering teams with direct access to a balanced group of world experts. These experts assist in accelerating and optimizing device designs early in the development stage, creating a higher chance of clinical success and adoption by the medical communities. The investor syndicate accelerates the development timeline by allowing management teams to spend less time on fund raising and more time on advancing the development of their specific device opportunity. ATI can also lower the risk profile through deep due diligence that our physician team can perform on investment opportunities. "These efforts have resulted in three stand alone companies so far - FlowMedica, X-Cell Medical and Impella, which have all made incredible progress towards the commercialization of their technologies," said Rick Geoffrion, CEO of ATI and Yuval Binur, co-founder of ATI.
Oxford Bioscience Partners
Oxford Bioscience Partners (OBP) is a life science venture capital firm that provides equity financing and management assistance to start-up early- stage, entrepreneurial-driven companies in the bioscience and healthcare industries. The General Partners of OBP currently manage venture funds with combined committed capital of more than $800 million. Oxford Bioscience Partners has achieved considerable success and above average returns in the bioscience field over the past 20 years through investments in more than 100 companies worldwide. More information on Oxford Bioscience Partners is available at http://www.oxbio.com/.
ABN AMRO Capital
ABN AMRO Capital is the private equity arm of ABN AMRO Bank, a prominent international bank. ABN AMRO is a prominent international bank, its origins going back to 1824. ABN AMRO ranks 11th in Europe and 23rd in the world based on tier 1 capital, with over 3,000 branches in more than 60 countries and total assets of EUR 601 billion, ABN AMRO Capital's portfolio includes more than 400 companies in a wide variety of sectors, adding up to about EUR 2 billion of investment. The dedicated Life Sciences group within ABN AMRO Capital focuses on drug and medical devices related investment opportunities in Europe and the USA. More information on ABN AMRO Capital is available at http://www.capital.abnamro.com/
Giza Venture Capital
Giza Venture Capital was established in 1992 and has three funds totaling $316 million. The fund's capability in evaluating technologies combined with its cumulative experience in venture capital, operations, investments, and M&A, create the foundation of Giza's vision and success. Giza's headquarters in Tel Aviv, together with offices in New York, London and Singapore enable the fund to forge stronger relationships on behalf of its portfolio companies by actively advancing strategic alliances worldwide. More information on Giza Venture Capital is available at http://www.gizavc.com/
Rick Geoffrion, Accelerated Technologies, Inc.
Accelerated Technologies, Inc.