News

Shifamed Announces $15.5M Series A Financing

Supira Medical, newly formed portfolio company, focuses on next generation PVAD.

CAMPBELL, Calif., June 13, 2018 – Shifamed, LLC announced today the $15.5M financing of Supira Medical, the newest Shifamed portfolio company. The financing, led by The Capital Partnership (TCP) with participation from Cormorant Asset Managementand Shifamed Angels, officially closed on April 25, 2018.

Supira Medical is focused on the development of a next generation percutaneous ventricular assist device (pVAD) for use in high-risk patients undergoing interventional procedures. The team is led by Jean Orth, appointed to CEO of Supira in December 2017, with the company located in Shifamed’s state-of-the-art facility in Silicon Valley.

“I am delighted Jean will lead the Supira team and spearhead the company’s early development efforts. The closing of this significant round of early-stage financing is a testimony to the large, unmet clinical need Supira’s technology will address,” commented Amr Salahieh, Founder of Shifamed and Chairman of Supira.  “Jean’s 25+ years of cardiology-centric medical device experience, which includes her previous role as Executive VP of Business Development at Shifamed, makes her an ideal fit for Supira at this important time.”

Since its inception in 2009, Shifamed has successfully incubated and sold three portfolio companies with an additional three companies funded and in development. Shifamed’s legacy portfolio companies include Maya Medical (acquired by Covidien), Kalila Medical (acquired by Abbott/Terumo), and most recently Apama Medical (acquired by Boston Scientific).

Shifamed’s current portfolio consists of Atia Vision developing a next generation of accommodating intraocular lens, NuVera Medical developing a novel imaging platform for use during complex cardiovascular interventions, and its most recent addition Supira Medical.

About Shifamed LLC
Founded by serial entrepreneur Amr Salahieh, Shifamed LLC is a privately held medical technology incubator focused on developing new medical products from concept to commercial release. To learn more about Shifamed, please visit www.shifamed.com.

 

MEDIA CONTACT:
Katie Arnold, SPRIG Consulting LLC
(408) 805-0520 | katie@sprigconsulting.com

Shifamed LLC Announces Completed Acquisition of Apama Medical

Shifamed LLC, a privately held medical device incubator, announced that Apama Medical, Inc., a Shifamed Portfolio Company, was acquired by Boston Scientific Corporation (NYSE: BSX) for $175 million in cash up-front and a maximum of $125 million in contingent payments over the period of 2018-2020, based on achievements of clinical and regulatory milestones.

Boston Scientific Announces Agreement to Acquire Apama Medical

Boston Scientific Corporation today announced a definitive agreement to acquire Apama Medical Inc., a privately-held company that is developing the Apama Radiofrequency (RF) Balloon Catheter System for the treatment of atrial fibrillation (AF).

NuVera Medical Closure of $11M in Series A Financing

NuVera Medical, Inc., a portfolio company of Shifamed, LLC., announced today it has raised $11M in Series A financing. The financing, which closed on June 28, 2017, was led by The Capital Partnership with participation from GE Ventures, Lilly Asia Ventures, and Cormorant Asset Management.

Atia Vision Closure of $4M in Series C Financing

Atia Vision, a privately held medical device company focused on developing an accommodating intraocular lens to address the unmet clinical needs in the intraocular lens replacement market, today announced it has closed $4M in the first tranche of its Series C financing.

Apama Medical Closure of $19.5M in Series C Financing

Apama Medical, Inc., a privately held medical device company committed to improving patient outcomes by developing a novel catheter ablation system for the underpenetrated atrial fibrillation (AF) market, today announced it has closed $13M in a Series C financing from existing investors.

MedTech Intelligence: Want to be a Medical Entrepreneur

One interesting and characteristic example is Amr Salahieh, currently founder, president and CEO of Shifamed. He received his bachelor’s degrees at Case Western Reserve in Cleveland in both biomedical and electronical engineering. From there he got a job and worked in increasingly senior roles at a few cardiovascular device companies, including Advanced Cardiovascular Systems and Cardiothoracic Systems.

Abbott Acquires Kalila Medical to Expand Cardiac Electrophysiology Offerings

Abbott Announced today that is has acquired Kalila Medical, Inc, a private medical device company developing next-generation access technologies used in cardiac electrophysiology procedures for the treatment of heart rhythm disorders, including atrial fibrillation.

SSF Spotlight: Amr Salahieh + Shifamed – A Story of Medical Device Innovation Reinvented

Amr Salahieh is a seasoned medical device entrepreneur with more than 20 years of experience. He is the founder, president and CEO of Shifamed, LLC, a Campbell, California, based medical technology incubator focused on developing new medical products from concept to commercial release.

MedTech Strategist: Shifamed – Solving the Incubator Financing Dilemma

Fifteen years ago, medtech incubators were booming, but the model had fallen out of favor by the mid 2000s, partly because incubators ran into funding problems. Now new incubator Shifamed believes it has found a solution to the financing dilemma.