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May 9, 2007
CVRx Announces $65 Million Series D Financing
CVRx harnesses a well-understood biological reflex for the treatment of two of the most significant unmet needs in clinical medicine today: hypertension and congestive heart failure. The company has pioneered a device/electrode combination to stimulate the carotid sinus, triggering a reduction in blood pressure, even in patients who display high resistance to existing blood pressure medicines. Initial clinical data, presented earlier this year in Europe, is very promising. Below, CVRx reports raising $65 million in a Series D Financing.
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CVRx has completed a fourth round of private equity financing totaling $65 million. Johnson & Johnson Development Corporation was the lead investor. In conjunction with the financing, Dr. Brad Vale, vice president, Johnson & Johnson Development Corporation joined the CVRx Board of Directors. Other participants in this round included new investor BBT Fund L.P., and existing investors New Enterprise Associates, Thomas Weisel Healthcare Venture Partners, InterWest Partners, ABS Ventures, Frazier Healthcare Ventures and SightLine Partners.
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