Kalila Medical Inc., A Shifamed Portfolio Company, Announces Strategic Funding Partnership With Merieux Developpement

CAMPBELL, Calif., April 15, 2014 /PRNewswire/ -- Kalila Medical, a privately held medical device company focused on the development of next generation steerable catheter technologies, announced today that Mérieux Développement joined its existing investors in the company's recent financing. Kalila is in the final stages of development of the Vado™ Steerable Sheath, a novel steerable sheath for electrophysiology procedures. 

"This is an important milestone for Kalila, as we previously funded the company solely through small investors. Having an investor like Mérieux on the team as we prepare for initial commercialization is important for our success," said Mike Dineen, President and CEO of Kalila Medical. "This financing will bridge the company through our initial clinical experience with Vado."

"We are excited to be joining Kalila in this capacity and look forward to further collaboration and support of the company," said Isaac J. Bright, MD, Partner of Mérieux Développement.  "This funding positions Kalila well to capitalize on the opportunity to improve the diagnosis and therapeutic outcomes for the many patients afflicted with atrial fibrillation, by accelerating Vado's market entry in the US and Europe.  Furthermore, this investment is part of a larger collaboration effort with Shifamed LLC, to support development and initial commercialization of disruptive medical device companies."

About Kalila Medical
Founded in 2010, Kalila Medical is a privately held medical device company, formed by Shifamed LLC. Kalila's first product, the Vado^TM Steerable Sheath, is redefining precision and control with an innovative platform of specialized delivery and access catheters. The procedural benefits of Kalila's proprietary truVector™ technology can be leveraged across a growing number of endovascular applications including atrial fibrillation ablation, mitral valve repair, ASD/PFO closure, left atrial appendage closure, transseptal puncture, and LV lead placement.

For more information, please visit www.kalilamedical.com.

About Mérieux Développement
Mérieux Développement is an investment company dedicated to healthcare, through venture capital and growth capital investment. Merieux Développement is owned by Institut Mérieux, which employs around 15,000 employees worldwide with consolidated revenues exceeding EUR 2.0 billion in 2013. Other companies owned by Merieux family holding include bioMérieux, Mérieux NutriSciences, Transgene and Advanced BioScience Laboratories, Inc. Mérieux Développement is active on a global basis in venture capital and growth capital, working actively alongside entrepreneurs whose products and services can bring genuine advances to the health of patients and consumers worldwide, offering them access to its industry expertise and global network.

For more information, please visit: www.merieux-developpement.com

MEDIA CONTACT:
Katie Arnold
SPRIG Consulting LLC
(408) 805-0520
[email protected]

SOURCE Kalila Medical