Capstan Medical Secures $110 Million in Series C Funding to Advance Robotic Heart Valve Treatment Technology
Capstan Medical, a pioneering developer of robotic-enabled minimally invasive solutions for heart valve disease, has recently secured significant funding to advance its innovative technology. The company, founded in 2020 and headquartered in Santa Cruz, California, has successfully closed an oversubscribed $110 million Series C financing round. This substantial investment is led by Eclipse, with participation from existing investors Yu Galaxy and Intuitive Ventures, and new investment from Gideon Strategic Partners.
Capstan Medical’s mission is to transform the treatment of structural heart disease by merging surgical robotics with catheter-based technology and next-generation implants. The company’s innovative approach aims to provide a significantly less invasive alternative to traditional open heart surgery, ensuring precise and reliable placement of heart valve implants while minimizing recovery time and the risk of complications.
The new funding will be instrumental in driving the company’s expanded clinical and development work, leading to upcoming pivotal trials. Capstan Medical is poised to begin its first human trials for its mitral valve solution in early 2025, with other projects anticipated to enter trials later in the year. This significant investment underscores the company’s commitment to addressing the urgent needs of patients suffering from heart valve disease, a condition that remains a leading cause of death in America.
Capstan Medical’s CEO, Maggie Nixon, emphasized the potential of percutaneous intervention to dramatically increase treatment options for millions of people affected by heart valve disease. “At Capstan, we believe that our robotic platform with a full portfolio of implants can uniquely address the urgent needs of this underserved patient population. We have pulled together the right people at the right time to make this happen and are energized by the incredible support of our investors,” Nixon stated.
The company has rapidly expanded its operations, growing its employee count to around 75, up from approximately 30 in the past year. Capstan Medical’s team boasts extensive expertise in heart valve, implant delivery, and robotics across engineering, operations, clinical, and regulatory areas. The company’s founders, Dan Wallace and David Schummers, have over 50 years of collective experience in the start-up and commercial medical technology space, and they are joined by founding engineers Spencer Noe and Peter Gregg.
Capstan Medical’s innovative technology is designed to bridge the gap in treatment options for heart valve disease. Traditional heart valve repair or replacement surgery is highly invasive and associated with lengthy recovery times. While minimally invasive transcatheter aortic valve replacement (TAVR) has become a standard of care, there are no FDA-approved transcatheter mitral or tricuspid valve replacement options available, despite a larger population afflicted by these conditions.
With this significant funding, Capstan Medical is well-positioned to advance its mission of transforming the treatment of structural heart disease. The company’s commitment to patient-optimized solutions and its pioneering approach to merging surgical robotics with catheter-based technology and next-generation implants hold great promise for addressing the unmet clinical needs of patients suffering from heart valve disease.
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