Tioga Medical, a Campbell, Calif.-based a newly formed company developing a novel transcatheter valve replacement technology for mitral and tricuspid applications, closed a Series A financing, raising a total of $15M.
The round was led by The Capital Partnership (TCP), with participation from Cormorant Healthcare Fund, AMED Ventures, and Shangbay Capital.
The company intends to use the funds to advance its pre-clinical and clinical development programs.
Led by Mike Dineen, President and CEO, Tioga Medical is a privately held portfolio company of Shifamed LLC, focused on providing valve replacement solutions for mitral and tricuspid applications that are procedurally simple and use a less invasive, transcatheter approach.
Mitral valve disease is the company’s initial focus and is the largest structural heart valve problem, roughly four times more common than aortic stenosis.
Founded by serial entrepreneur Amr Salahieh, Shifamed is a medical innovation hub focused on developing advanced solutions that accelerate time to market, reduce risk, and increase impact.