CORMEDICS COMPLETES ETF INVESTMENT PROCESS,
ADDS MEDICAL TECHNOLOGY INVESTOR TO BOARD
HOUSTON, Nov. 8, 2011 — Cormedics Corp. has completed its planned start-up funding process with the Texas Emerging Technology Fund (ETF), resulting in a total investment of $750,000 since the state’s initial funding in late 2009. “The ETF’s imprimatur and financial support have been incredibly valuable to Cormedics in helping move our technology forward and attracting other investor support as we move toward commercialization,” said Jim Meador, CEO of Cormedics.
In September, Cormedics announced that Palo Alto medical technology investor Patrick Rivelli had invested $250,000 to bring the company’s total external capital raised to more than $1 million. Rivelli, who has joined the company’s board, said, “Cormedics represents a significant opportunity in the way medicine is practiced.”
Meador also acknowledged, “with deep appreciation, the contributions in strategic guidance provided by Debra Lucas, an innovation business consultant in Dallas. Debra’s insights helped Cormedics achieve its roadmap to success, resulting in both ETF and investor funding.”
Cormedics is an innovative medical device company focused on developing novel and disruptive technologies that selectively treat the entire heart with drug, cell, gene, and device therapies by introduction into the pericardial space. For more information, visit www.CormedicsCorp.com.
About Whole-Heart Therapeutics
Cormedics’ intrapericardial products provide access to the entire epicardial surface of the heart for pericardial effusion, electrophysiology, and cardiac rhythm device therapies. Intrapericardial drug delivery may enable preferential targeting of the heart and coronary circulation with a minimum of systemic side effects. The company’s minimally-invasive instrument, the PeriPort, provides safe access to the pericardial space surrounding the heart to enable delivery of targeted heart disease treatment. Cormedics has been issued five U.S. patents on intrapericardial therapies, including the PeriPort.
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