Sotera Medical said today that it landed another backer in the seed round for the esophageal protection device it’s developing for cardiac ablation procedures.
Cleveland-based Sotera Medical – not to be confused with Sotera Health or Sotera Wireless – said the device was created by co-founder Dr. Emile Daoud of Ohio State University’s Wexner Medical Center and a team of physicians.
In April Sotera Medical said it raised more than $1 million in the seed round, led by a syndicate of investors including JumpStart, North Coast Angel Fund, Northwest Ohio Tech Fund II, private investors and the state of Ohio. At the time the company said it hoped to begin first-in-human testing by the end of the year.
Today Sotera said that that Youngstown, Ohio-based Valley Growth Ventures also joined the round with an unspecified contribution.
“It’s exciting to have VGV as a partner. Their team brings a lot of knowledge and a strong network of relationships in addition to their investment capital,” co-founder & CEO William Fuller said in prepared remarks. “The addition of VGV’s investment puts us in position to achieve our first clinical milestone in 2019.”
“Our investment in Sotera Medical represents our belief in the team and their technology. Along with being an excellent investment opportunity, we see Sotera Medical as an important advancement in the treatment of atrial fibrillation,” added VGV managing director Ernie Knight.