BioCardia Completes $7.4 Million Private Equity Financing: Successful Round Follows Completion of Phase I Clinical Trial Enrollment and Two Year Follow-up Data Publication on First Cohort
South San Francisco, CA., April 21, 2008
BioCardia, Inc., a regenerative medicine company, today announced the completion of a new round of financing, raising $7.4 million from existing and new investors.
"BioCardia has established a leadership role in cardiovascular regeneration therapies, with a unique technology that underlies the entire field," said Dr. Simon Stertzer, Chairman of the Board. "By enabling the clinician to deliver stem cell based therapies in a minimally invasive fashion appropriate for routine clinical use, BioCardia's products have great promise to usher in a new standard of care."
"The continued interest and support we've received from investors is testament to our leadership in cell therapy and the ability of our first catheter product offerings to positively affect the interventional treatment of patients with cardiovascular disease," said Peter Altman, chief executive officer, BioCardia. "We look forward to continuing rigorous clinical development of combination regenerative medicine products with partners."
Headquartered in South San Francisco, BioCardia, Inc. is a leader in the development of catheter systems which enable local delivery of therapeutics to the heart and other organs. BioCardia currently is marketing the Morph® Catheter used through the vascular system for complex cases. Biotherapeutic clinical trials are ongoing using BioCardia's Helical Infusion System to deliver cell and gene therapies directly to the heart muscle.