Cierra, Inc. Raises $21M from Top Venture Healthcare Investors
Jun 16, 2005 - REDWOOD CITY, Calif. -- (BUSINESS WIRE) -- Cierra, Inc. today announced a $21 million financing led by Delphi Ventures, Menlo Park, CA. The round also received strong support from current investors including Morgenthaler Ventures, Split Rock Ventures and Frazier Healthcare Ventures. The funds will be used primarily to launch US clinical trials and to initiate commercialization of Cierra's non-implant, catheter-based technology focused on migraine reduction by closure of Patent Foramen Ovale (PFO) in the heart.
"Delphi Ventures is very pleased to lead this key round of financing for Cierra. Cierra has an outstanding team of professionals who have developed a unique approach to PFO closure that does not involve leaving behind an implant in the heart," said John Maroney a General Partner of Delphi Ventures.
Erik Engelson, President and CEO of Cierra, said, "We are delighted both to have Delphi as an investor as well as by the continued broad support of the current investors."
Delphi Ventures, based in Menlo Park, California, is a venture capital firm focused on early stage healthcare investing, including medical devices, diagnostics and biotechnology (www.delphiventures.com).
Headquartered in Redwood City, CA, Cierra, Inc. is a medical device company focused on minimally invasive treatment of heart conditions. Cierra is the seventh portfolio company from the medical device incubator, The Foundry (www.the-foundry.com), and is privately held. Venture investors in Cierra, Inc. include Morgenthaler Ventures (www.morgenthaler.com), Split Rock Partners (www.splitrockpartners.com) and Frazier Healthcare Ventures (www.frazierhealthcare.com).
Contacts
Cierra, Inc.
Erik T. Engelson, eengelson@cierrainc.com