Cardiva’s $41 Million Financing


Cooley advised Cardiva Medical on its recently completed equity and debt financing, including an additional $11 million, bringing the total equity and debt financing in the current round to $41 million.

Cardiva Medical®, an innovator in the field of vascular closure, today announced that the company has closed on $11 million in additional financing – bringing total equity and debt financing in the current round to $41 million. The additional financing exceeds previous commitments for this round and includes returning equity and debt investors – including PTV Healthcare Capital, Canepa Healthcare, and affiliates of Luther King Capital Management.

Funds will be used to continue U.S. commercial expansion of the VASCADE® Vascular Closure System and to fund the AMBULATE® clinical trial, an IDE study of Cardiva’s investigational closure system for mid-bore veins (defined as 6-12 French inner diameter access sheaths) used in cardiac ablation and other procedures.

Cardiva Medical, Inc., medical device company, designs, develops, and commercializes vascular access management products that help the body heal itself following percutaneous catheterization procedures. The company, led by John Russell, Zia Yassinzadeh and Lisa Garrett, is based in Santa Clara (CA).

Cooley advised Cardiva with a team including Mark Weeks (Picture), Josh Seidenfeld and Lauren Visek.

Involved fees earner: Mark Weeks – Cooley LLP; Josh Seidenfeld – Cooley LLP; Lauren Visek – Cooley LLP;

Law Firms: Cooley LLP;

Clients: Cardiva Medical, Inc.;

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Author: Ambrogio Visconti