Capstan is pioneering the development of a cutting-edge robotic platform and innovative catheter-delivered coronary heart implant technologies, revolutionizing minimally invasive procedures for life-saving mitral and tricuspid valve replacements. | Supply: Capstan Medical
Capstan Medical Inc. Yesterday announced a successful Series C funding round, raising $110 million in an oversubscribed effort that exceeded expectations. A California-based company has revealed that its latest round of funding for a spherical innovation has now surpassed $150 million in total funding.
“We enjoyed robust internal support for propelling our company forward, allowing us to bring in only one new investor during this round – a remarkable feat,” said Maggie Nixon, CEO of Capstan Medical. “Our goal is to fuel the next wave of innovation.”
Capstan Medical is pioneering the development of robotic and catheter-delivered implant technologies designed to enable minimally invasive, percutaneous replacement of mitral and tricuspid cardiac valves. The company plans to conduct its first-in-human mitral valve procedure within the next 12 months. The company intends to conform to a cutting-edge procedure for its tricuspid valve by 2025.
Nixon announced that Capstan Medical will maintain observation status until starting a landmark clinical trial for its mitral valve system in 2026, with submission planned to the US regulatory authorities. By 2028, the Meals and Drug Administration aims to expedite its evaluation process.
What emerging technologies do we leverage to accelerate seamless transition from preclinical to clinical trials?
Capstan Medical secured a significant investment from Eclipse, with Yu Galaxy and Intuitive Ventures also participating in the financing round for its Sequence C spherical. The three individuals had previously invested in the company. As a novice investor, Gideon joined forces with the esteemed Strategic Companions for the first time.
At a critical juncture, robotics is poised to take on a pivotal role in providing life-changing solutions to hundreds of thousands of patients worldwide, notes Justin Butler, a partner at Eclipse. “Capping its leadership in innovative treatments, Capstan pioneers robotic solutions for patients suffering from structural coronary heart disease.”
Intuitive Ventures serves as the venture capital arm for Intuitive, the pioneering surgical robotics innovator. At Intuitive, Nixon initially collaborated with Capstan Medical’s founder and Chief Technology Officer, Dan Wallace.
According to Nixon, the Intuitive Ventures funding should not be treated as a strategic funding or business-development funding by Intuitive Surgical.
“That’s simply a matter of financial support for their entry,” she stated. “It’s unbiased. This isn’t a structured deal.”
With the initial supply of gasoline stored in the tank, we were poised to successfully navigate the inaugural human trial.
“This pivotal moment will now unfold seamlessly, transitioning us from preparation to the actual trials of our innovative mitral machine,” said Nixon famously. “This allows us to revisit and refine our existing tricuspid concept, effectively moving it forward.” “We’re focusing on accelerating the development of our tricuspid implant for a first-in-human trial within the next 12 months.”
Capstan Medical concentrates its efforts on the development of innovative solutions for the treatment of mitral valve disorders.
Capstan Medical focuses on addressing the globe’s leading cause of mortality – coronary artery disease – by developing an innovative, minimally invasive solution that replaces diseased mitral and tricuspid heart valves without open-heart surgery. For countless individuals, access to traditional treatments like open-heart surgeries and catheter-based procedures is often out of reach.
“We’re entirely focused on the mitral valve,” clarified Nixon. While our preclinical tricuspid results may seem uncertain, we’re more confident about our mitral program being our top priority. One overriding priority; should we ever find ourselves in a resource competition, our missile programme would necessarily take top billing.
Within the next 12 to 15 months, we aim to conduct a tricuspid first-in-human procedure, which will significantly boost certain implant-related revenue streams in our portfolio, according to her.
Government appointments are an integral component of the developmental strategy.
In October, Brian King, a seasoned finance professional and former government official, departed from Intuitive Surgical to join Occam Labs, a pioneering medical device incubator behind the successful launch of Capstan Medical.
The CEO declared, “We’re currently refining our corporate strategy.” We’ve brought Brian King on board to lead our financial efforts, and we’re currently narrowing down candidates for a crucial regulatory role.
“This growth merely underscores the magnitude of support and momentum surrounding our endeavors,” she noted. The sheer audacity of that vote is truly astonishing. It’s our job to execute.”
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