Cardiva Closes $41 Million Financing

Palo Alto – March 19, 2018 – 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. Partner Mark Weeks led the Cooley team advising Cardiva.

The additional financing includes returning equity and debt investors PTV Healthcare Capital, Canepa Healthcare and affiliates of Luther King Capital Management. According to Cardiva, the additional funds will be used to continue US commercial expansion of its Vascade system and to fund a clinical trial of Ambulate.

“This additional investment reflects enthusiasm from our investors for the continued high rate of sales growth of Vascade, as well as for the exciting potential of our mid-bore vein closure program,” said John Russell, Cardiva’s president and CEO, in a news release. “With the Ambulate trial, we are fortunate to have a world-class group of investigators engaged in this first-of-its-kind study.”

Headquartered in Santa Clara, California, Cardiva is a privately held medical device company focused on developing and commercializing innovative vascular closure technologies.

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