Apama Medical Raises $1M from Broadview VenturesJan 20, 2012
January 20, 2012
Apama Medical Press Release
Over the past six months, we have been working diligently to raise funding for the ongoing development of Apama Medical. As a result of those efforts, I am pleased to announce we have successfully closed a $1,000,000 financing with Broadview Ventures, Inc., of which we have received the first tranche of $750,000. Established in 2008, Broadview’s mission is to accelerate the development of promising technology in cardiovascular and neurovascular disease through targeted investments in and support of early stage ventures. As such, we are honored to be working with them. Augmenting the investment by Broadview, Apama was also recently awarded a National Science Foundation grant totaling $499,400 comprised of an initial payment of $124,850 with additional milestone payments planned every 6 months.
Concurrent with the closing of our recent funding, it is also my pleasure to announce the addition of two key individuals to the team. Effective November 2011, please join me in welcoming our new Acting President Nancy Briefs, a seasoned entrepreneur who brings to the table a wealth of knowledge in the growth and development of early stage medical device companies. Supporting Nancy on the development side is our new VP of Research & Development Claudio Argento, a 15 year veteran in the medical device industry with an invaluable hands-on approach to problem solving.
Without question, the market for AF ablation continues to gain momentum. Having just attended the 17th Annual Boston Atrial Fibrillation Symposium, market demand for enhanced approaches to AF ablation is on the rise and we are well positioned to make our mark. In anticipation of our continued expansion, we are excited to say Apama has ‘moved out of the house’, joining our fellow Shifamed companies at the new Corporate Headquarters located in Campbell, CA. The new facility build-out is in the final stages of completion inclusive of expanded lab space and cleanroom that will be vital to our ongoing development efforts.
We continue to count ourselves blessed to be a part of such an exciting opportunity and the ongoing support of friends and associates. I look forward to continuing on this journey with each of you and will continue to keep you apprised of our progress in the months ahead.
Founder & CEO