May 13, 2010 in News from Our Companies

Recent Funding For Bioscience Companies

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Despite the challenging times for bioscience funding, two ATDC companies successfully raised funds to complete clinical trials and expand footprint respectively.

CardioMEMS Inc., which is developing an implantable device to measure and transmit pulmonary artery pressure, has raised $37.9 million in additional capital. The funds give the Atlanta-based vendor capital to complete a clinical trial of its heart failure pressure management system, called CHAMPION, with 550 patients through 65 heart centers in the U.S. The trial started in 2007 with results expected this summer. The device is a wireless high-frequency sensor implanted in the artery using a catheter-based procedure based on proprietary technology from Georgia Tech. The pressure is measured and displayed on a monitoring system. Following the procedure, patients perform wireless measurements of the pulmonary artery pressure from home. The data is transmitted to a secure database for physician review on a proprietary Web site.

SoloHealth, Inc has raised $660,000 in additional capital. Founded in 2007, the company offers self-directed health-care services. Its first product, EyeSite, is an interactive, self-service, vision-testing kiosk that provides consumers with a free assessment of their vision, information about common eye health conditions and referrals to local eye care practitioners. As of March this year, SoloHealth had nearly 100 EyeSite kiosks in seven U.S. markets — including Atlanta ; Houston ; Richmond , Va. ; and Charlotte , N.C. — and will add three cities this year while enhancing the kiosks’ technology.

With ATDC’s expanded bioscience catalyst team we are available to work with all bioscience companies, from concept to market.

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