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SynCardia brings in $19mm through sale of debt, equity

Executive Summary

Cardiovascular device developer SynCardia Systems Inc. has raised $19mm. It got $15mm through a structured-debt financing from Athyrium Opportunities Fund, and $4mm in Series E money from returning shareholders, including Highway 12 Ventures, Iron Gate Investments, and Syneq Ventures. The company will use the funds to market the Freedom portable driver, the first wearable power supply for its temporary total artificial heart (formerly known as CardioWest), and to facilitate the launch of its smaller 50cc total artificial heart. SynCardia has now raised $60mm since its 2001 formation.

Deal Industry
  • Medical Devices
  • Medical Devices
    • Implantable Devices
Deal Status
  • Final
Deal Type
  • Financing
    • Convertible Debt
    • Venture Financing

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