CardioKinetix raises $14.5M for catheter-based heart treatment
CardioKinetix, a Redwood City, Calif. life sciences startup working on a heart-failure treatment that could potentially help over a million patients, has raised a third round of funding, according to VentureWire.
The company’s procedure uses a catheter to strengthen parts of the heart, and protect areas damaged following heart attacks. The device is designed to be an alternative to a risky surgery typically only used in high-risk patients.
Previous investors Cutlass Capital, JPMorgan Partners and U.S. Venture Partners led the $14.5 million round, which is intended to move CardioKinetix toward clinical trials. A new investor, Hambrecht & Quist Capital Management, also participated.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.