Cardiva Medical, a Santa Clara, CA-based medical device company, raised $30m in equity financing.
Backers included affiliates of Luther King Capital Management, PTV Healthcare Capital and the Canepa Advanced Healthcare Fund.
The company intends to use the funds to continue the commercial expansion of the VASCADE Vascular Closure System and to develop proprietary closure technologies.
Led by John Russell, President and CEO, Cardiva Medical provides the VASCADE Vascular Closure System, a closure system that has demonstrated a statistically significant reduction in access site complications in a prospective, randomized controlled clinical trial – called RESPECT.
The RESPECT study included 420 patients at 20 U.S. centers, comparing VASCADE to manual compression for femoral arterial closure.