Company Seeks to Transform Heart Valve Therapy with Innovative Technology
SARATOGA, Calif.--(BUSINESS WIRE)--June 16, 2004--Sadra Medical, a privately-held, development-stage Silicon Valley firm dedicated to developing innovative new therapies for aortic valve disease, has recently completed a $9M Series A round of funding. Pequot Ventures co-led the financing, along with the company's original seed investors Onset Ventures and Schroder Ventures.
"Our goal is to minimize the invasiveness of aortic valve surgery, thereby improving patient care and making valve replacement possible for patients who are too ill to undergo surgery," stated Amr Salahieh, President and CEO of Sadra Medical. "We're very motivated by the support of such a high caliber group of investors."
Treatment of aortic valve disease remains a significant and growing unmet clinical need. As many as 3 million people in the U.S. have aortic stenosis; however, only a small percentage of those are treated with the current standard of care, open-heart surgery using cardiopulmonary bypass. By delivering a highly-effective aortic valve replacement that reduces the risks and morbidity associated with surgery, Sadra Medical seeks to provide a therapeutic option for patients who are not being treated today.
Sadra Medical was founded in 2003 by Amr Salahieh and some leading-edge cardiovascular clinicians. Board members include Salahieh, Leslie Bottorff of Onset Ventures, Juliet Bakker of Pequot Ventures, Charles Warden representing Schroder Ventures, and Fred Khosravi, CEO of AccessClosure.
About Pequot Ventures
Pequot Ventures is the direct equity investment arm of Pequot Capital Management, Inc., a leading asset management firm with over $5.5 billion of capital under management. Pequot Ventures was founded in 1996, has over $1.5 billion in capital under management and has invested in over 150 companies in the healthcare and technology sectors. The group has offices in New York City, Menlo Park, Los Angeles, Wellesley, MA and Westport, CT. www.pequotventures.com
About Onset Ventures
ONSET Ventures is a 20-year-old venture capital firm specializing in early/seed stage information and medical technology-based startups. Based in Menlo Park, CA, ONSET has pioneered a shirt-sleeves style of active collaboration with entrepreneurs to conceive and develop successful new businesses. The firm has invested in over 100 companies, and has in excess of $500 million under management. www.onset.com
About Schroder Ventures
Schroder Ventures Life Sciences ('SVLS') is a life sciences focused venture capital firm with funds totaling $900M in capital. Schroder Ventures advised funds have invested in the life sciences industry since the early 1980s and, to date, have backed over 100 companies internationally. SVLS was established in 1993 and currently has offices in London, Boston, and San Francisco. www.svlifesciences.com
Sadra Medical, Inc. Amr Salahieh, 408-871-8813
Source: Sadra Medical