Aria CV Wants to Offer a Device Option for Pulmonary Arterial Hypertension
Aria CV is venturing into a space that few medtech companies have gone before. The St. Paul MN-based company is developing an implantable device to tackle Pulmonary Arterial Hypertension (PAH), a disease that is mostly treated with pharmaceuticals.
Earlier this week, the company raised $31 million in a series B round to help fund an early feasibility study in the U.S. for the Aria CV Pulmonary Hypertension System (Aria CV PH System).
The series B round was led by Xeraya Capital. Also participating in the financing were Longview Ventures, Catalyst Health Ventures, BioStar Ventures, Cedar Point Capital, Frontcourt Group, and three strategic investors Aria CV would not name.
Aria CV was founded about 10 years ago by two doctors (John Scandurra and Karl Vollmers), who were fellows at the University of Minnesotaâs Medical Devices center. Dan Gladney, who serves as president and CEO of Ara CV, first came to the firm as an investor when it was formed. He said he became attracted to Aria CV because its technology had to potential to meet an unmet need.
âThereâs a huge unmet clinical need in the area of pulmonary arterial hypertension,â Gladney told MD+DI. âToday itâs being treated by drugs only. There are no devices â no implants. It was a new frontier.â
Gladney added, âIn the drug market, as I viewed it back then, and I thi...
Source: MDDI - Category: Medical Devices Authors: Omar Ford Tags: Cardiovascular Business Source Type: news
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