Sunnyvale, CA, August 9, 2012. -- Cardiva Medical, Inc. announced today it has closed the third tranche of a Series 2 private equity financing. Investing in this financing were new investors, TriVentures II Fund L.P., which joined existing investors PTV Sciences, Galen Partners, Sycamore Ventures, and AmKey Ventures.
Vascular Closure System (VCS). The Company previously announced submission of the final module of its Pre-Market Approval (PMA) application and is awaiting U.S. Food and Drug Administration (FDA) approval of the VASCADE VCS.
"We are extremely pleased that TriVentures has joined with Cardiva s current investors in this financing, said Charles Maroney, CEO. TriVentures has extensive experience with multinational healthcare companies and we look forward to working with their team as we move toward FDA approval and commercialization of VASCADE."
Cardiva Medical, Inc. is a privately-held, medical device company that designs, develops and commercializes femoral access closure products which help the body heal itself following percutaneous catheterization procedures. Annually, more than 12 million percutaneous catheterization procedures worldwide require closure. In 2005, Cardiva launched its first product into the vessel closure market, the Boomerang® Wire System, which demonstrated excellent ease-of-use and safety. In January 2008, Cardiva launched the Cardiva Catalyst® II, which incorporates hemostatic agents to accelerate the body s own coagulation pathway; facilitating hemostasis at the arteriotomy site, preserving the artery and leaving absolutely nothing behind in the patient. In May 2009, Cardiva launched the Catalyst III system that is coated with protamine sulfate which neutralizes heparin in the tissue tract and facilitates hemostasis in patients anticoagulated with heparin.
For additional information about Cardiva, please visit our website at www.cardivamedical.com.
Boomerang®, Boomerang Catalyst® and Cardiva Catalyst® are intended as adjuncts to manual compression and are registered trademarks of Cardiva Medical, Inc.
Chief Financial Officer
Cardiva Medical, Inc.