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Boston Millennia Partners’ portfolio reflects Millennia’s commitment towards building enduring, large-scale businesses that have the potential to provide superior financial returns to our investors. Millennia’s portfolio is comprised of a diversified group of firms each positioned with the potential to become leaders in their respective market segments. We invite you to use the links below to learn more about each of those portfolio companies. |
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CardioMEMS Inc.
75 Fifth Street, N.W.,
Suite 205
Atlanta, GA 30308
USA
Phone: 404-920-6711
Fax: 404-885-9974
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CardioMEMS, Inc. is a medical device company focused on the application of Microelectromechanical systems (MEMS) technology to create innovative devices for the diagnosis, treatment and management of chronic diseases. CardioMEMS is developing an implantable wireless sensor targeted for the Abdominal Aortic Aneurysm (AAA) and Congestive Heart Failure (CHF) markets. There are approximately 200,000 new cases of AAAs in the US diagnosed each year and it is the 3rd leading cause of death in men over 60. In the US alone, CHF affects approximately 5 million people with more than half a million new cases each year. It is the leading cause of hospitalizations with almost a million admissions last year.
CardioMEMS was founded by Jay Yadav, M.D., a cardiologist at the Cleveland Clinic Foundation and Mark Allen, Ph.D, Professor of Electrical and Computer Engineering at the Georgia Institute of Technology. Both are recognized pioneers in their respective fields and successful entrepreneurs. CardioMEMS is located in Atlanta, GA and is privately held.
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| Millennia Team |
Pat Fortune, Ph.D.
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| Visit the Website |
http://www.cardiomems.com |
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| Case Study |
CardioMEMS was founded in 2000 in order to pursue commercial applications of micro-electromechanical systems (MEMS) developed in the laboratories of Georgia Tech and M.I.T. for use in patients with a variety of disorders including abdominal aortic aneurysms (AAA) and congestive heart failure (CHF). The CardioMEMS AAA Pressure Sensor, an implantable MEMS-based device designed to monitor pressure in the space between an endovascular graft and the arterial wall, entered its first phase of human trials in early 2003. The initiation of clinical trials for the CardioMEMS Heart Pressure Sensor, a similar product designed for surgical insertion into the left ventricle of heart failure patients, occurred shortly thereafter in early 2004. CardioMEMS realized its first major regulatory milestone in 2005, achieving 510k approval and obtaining the CE mark for its AAA product. The company reported its first sales in the following year and attained a 39% year-on- year increase in gross revenue from 2006-2007. A larger market opportunity is available for the company’s CHF sensor, for which the company is currently seeking regulatory approval. Pivotal trials for this product commenced in 4Q07. CardioMEMS’ technology covers a broad range of in vitro applications, and the company has been able to attract late stage investment on terms attractive to the company that we expect will fully fund the creation of significant value creating events.
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| Related News |
Atlanta, GA - January 12, 2009
GaBio Names Grace Powers, Emerging Leader of the Year
Atlanta, GA - March 20, 2008
DCA Life Sciences Facilities Fund Program Completes $2M Loan to CardioMEMS
Atlanta, GA - December 4, 2007
CardioMEMS, Inc. Closes $33 Million Series E Financing and Appoints New CFO
Atlanta, GA - September 13, 2007
CardioMEMS Announces Start of CHAMPION Pivotal Study of Wireless Pressure Sensing for Heart Failure Monitoring
Atlanta, GA – September 13, 2007
CardioMEMS Announces Start of CHAMPION Pivotal Study of Wireless Pressure Sensing for Heart Failure Monitoring
Atlanta, GA - March 28, 2007
CardioMEMS, Inc. Announces FDA Clearance of the EndoSure™ Wireless AAA Pressure Measurement System for Measuring Intrasac Pressure During TAA Repair
Atlanta, GA - March 22, 2007
CardioMEMS, Inc. Announces First Patient Implant of Wireless Pressure Sensor for Hypertension Monitoring
Atlanta, GA - January 24, 2007
CardioMEMS Files for IPO
Atlanta, GA - January 23, 2007
CardioMEMS wins 2007 Deal of the Year award
Atlanta, GA - November 1, 2006
CardioMEMS, Inc. Closes $22.6 Million Series D Financing and Appoints New CFO
Atlanta – June 1, 2006
CardioMEMS, Inc. Announces First Human Use of Wireless Pressure Sensors in the Left Atrium of the Heart.
Atlanta, GA - March 31, 2006
CardioMEMS, Inc. Wins Frost & Sullivan 2006 Product Innovation of the Year Award
Atlanta – February 20, 2006
CardioMEMS, Inc. Announces First Human Use of Wireless Pressure Sensor for Congestive Heart Failure Monitoring
Atlanta, GA - January 9, 2006
CardioMEMS Names Matt Borenzweig Vice President of Sales
Atlanta, GA - December 14, 2005
CardioMEMS Closes Series C Financing
Atlanta - November 1, 2005
CardioMEMS, Inc. Announces 510(k) Clearance and U.S. Launch of the EndoSure™ Wireless AAA Pressure Measurement System
Atlanta, GA - February 21, 2005 - The Whistle
Clinical trials move heart sensors one step closer to commercialization
September 17, 2004 - New York, NY - The Journal News
Doctors Test an "E-ZPass" For the Chest
Atlanta, GA - April 2, 2004
CardioMEMS, Inc. Announces First Human Use of its Implantable Sensor Technology
Forbes Magazine - March 01, 2004
From the Brink Of Death
BOSTON, MA - November 25, 2003
Boston Millennia Partners Invests in CardioMEMS, Inc.
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