CAMPBELL, Calif., April 4, 2019 /PRNewswire/ -- Tioga Medical, a newly formed Shifamed portfolio company, announced today
"We are extremely pleased to close this round of financing with such strong support from our investors," stated Mike Dineen, President and CEO of Tioga Medical. "This round allows us to build out a world class team and dramatically accelerate the progress of our novel mitral valve and delivery system before we leverage the technology for the tricuspid application."
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. Current surgical approaches are invasive and not widely utilized, leaving many patients with mitral valve disease undertreated. Similar to the recent adoption for transcatheter aortic valve replacement (TAVR), there is a significant clinical need for less invasive, transcatheter approaches for mitral valve replacement.
"The proprietary Tioga technology represents a truly innovative solution to a difficult clinical problem in the structural heart space," stated Casey Gordon, Head of Private Investments at TCP. "TCP is excited to partner with a team with a strong track record of innovative medtech solutions. We believe this combination positions Tioga as an important, up-and-coming player in the mitral and tricuspid valve markets."
About Tioga Medical, Inc.Tioga Medical, a privately held portfolio company of Shifamed LLC, is focused on providing elegant valve replacement solutions for mitral and tricuspid applications that are procedurally simpler and use a less invasive, transcatheter approach.
About Shifamed, LLC.Founded by serial entrepreneur Amr Salahieh, Shifamed LLC is a highly-specialized medical innovation hub focused on developing advanced solutions that accelerate time to market, reduce risk, increase impact, and forge a path toward a world where patients are able to lead longer, healthier lives. To learn more about Shifamed, please visit www.shifamed.com.
MEDIA CONTACT:Katie ArnoldSPRIG Consulting LLC+1 (408) firstname.lastname@example.org
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SOURCE Tioga Medical, Inc.
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