Development-stage med device firm Nido Surgical said this week it raised $1.3 million in a Series A round to support the development of its CardioPort platform designed to enable video-endoscopic trans-cardiac surgeries.
Money raised in the round will support development and 1st-in-man studies of the platform, according to the Boston-based company. The $1.3 million Series A is joined by a $1.4 million Small Business Technology Transfer grant from the National Institutes of Health.
The company’s CardioPort is designed to be inserted through small incisions in the chest and heart wall for intracardiac procedures, and enables video-endoscopic visualization through a camera and light source within the bulb lens. The device’s body also includes a channel for standard thoracoscopic or laparoscopic instruments and catheter-based device delivery systems.
Nido Surgical is developing the CardioPort with an initial clinical application for the repair of congenital heart defects.
“Because of the strong and innovative underlying research by the clinical team at Boston Children’s Hospital, the CardioPort platform has the opportunity to transform high-risk “on-pump” cardiac surgeries to minimally-invasive “off-pump” procedures where the patients may benefit from improved outcomes and faster recovery. With the funding we have announced today we will be able to finalize device development, complete our preclinical validation, and launch the First-In-Man studies,” CEO Farzad Parsaie said in a press release.
The funding round was composed of new and existing angel investors, the company said. Nido Surgical is seeking an additional $2.2 million before closing the round.
“The investment we have made in Nido Surgical reflects our commitment to supporting companies with cutting edge technologies that have the potential to transform medical practice. We look forward to working with the company as they demonstrate the utility of the CardioPort in an initial clinical trial,” Broadview Ventures director Dr. Rick Jones said in prepared remarks.