Follow the Money to Medical Devices & Diagnostics
Spotlight on CVRx, Inc.

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Follow the Money to Medical Device & Diagnostic Opportunities highlights a newly funded medical device or diagnostic company. This includes important insights into the featured company’s product pipeline, manufacturing and business relationships, and likely sourcing opportunities.

CVRx is a U.S. private company that develops proprietary technologies for the treatment of high blood pressure and heart failure. It raised $113 million in a completion of a mixed financing round, which included $93 million in equity financing and a $20 million debt facility, as reported in the PharmSource Lead Sheet on August 11, 2016.

Corporate Highlights

  • CVRx was founded in 2001
  • Corporate Headquarters: Minneapolis, MN

Sourcing Opportunities

  • CVRx plans to use the proceeds to support the following clinical trial:

Device: Barostim Neo™
Development Phase: Pivotal studies
Medical Specialty: Cardiovascular/Vascular
Purpose: Device – Therapeutic/Interventional
Type: Implant – Other; Electrode/Stimulator
Description: An invasive implant that activates the baroreceptors in the carotid artery for the treatment of hypertension and heart failure

Approvals/Clearances:
US – PMA planned
EU – CE Mark approval
US – Other

Classification: US Class III

Previous Financings

  • June 2016: $46.5 million in a completed venture capital investment
  • September 2014: $15 million in a completed private debt placement
  • October 2013: $12 million in a completed venture capital investment
  • July 2013: $29.6 million in a completed venture capital investment

Medical Device & Diagnostics Pipeline1

Product Candidate Indication Medical Specialty Purpose Type
Barostim neo Hypertension/
Heart Failure
Cardiovascular/Vascular Device – Therapeutic/Interventional Implant – Other;
Electrode/Stimulator

Regulatory Approvals and Clearances

Product Candidate Region Approval/Clearance Year of Approval or Clearance
Barostim neo USA Expedited Access Pathway (EAP) 2015
Barostim neo EU CE Mark 2014
Barostim neo EU CE Mark (MR Conditional Expanded labeling) 2014
Barostim neo USA Humanitarian Device Exemption (HDE) 2014

1Source: PharmSource Lead Sheet

Contact Information

CVRx, Inc. Key Officers
9201 West Broadway Avenue, Suite 650 Nadim Yared, President & CEO
Minneapolis, MN, 55445 USA John Brintnall, CFO
Phone: +1-763-416-2840 Dead Bruhn-Ding, VP, Regulatory Affairs & QA
Fax: +1-763-416-2841 Robert Kieval, Chief Development Officer
Web: www.cvrx.com Joseph DuPay, VP, Research, Development & Operations

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Follow the Money to Medical Device & Diagnostic Opportunities – Spotlight on EndoStim, Inc.

Scotty is a Research Analyst at PharmSource. He holds a BS degree in Biology from George Mason University and an MPH degree from Eastern Virginia Medical School. He’s experienced in data collection, analysis and management, and has done laboratory analysis and safety program development.

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