Cardima Seeks Suitor For Its Surgical Ablation Catheter Business By June
This article was originally published in The Gray Sheet
Executive Summary
Cardima aims to find an acquirer for the Revelation Tx ablation catheter and all other assets by the end of Q2 to avoid conducting another financing round
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Financings In Brief
Adiana: Non-incisional, permanent contraceptive manufacturer will use the proceeds from a $23 mil. Series D financing to complete its pivotal clinical trial, obtain PMA approval and prepare for market launch. The funding was led by Tullis-Dickerson & Co., with OrbiMed Advisors LLC joining as a new investor. Both venture capital firms will be represented on the firm's board of directors, according to Adiana. The company expects to pursue a PMA for the device in early 2006, after completing a 600-patient, 16-site clinical trial. Once approved, Adiana will compete with Conceptus' Essure non-incisional permanent birth-control device(1"The Gray Sheet" Dec. 6, 2004, p. 24)...