MIAMI, Oct. 2, 2019 /PRNewswire/ -- Rapha Capital Management, LLC (https://www.raphacap.com), an investment management firm located in Miami, Florida, through Rapha Capital Investment VII, LLC ("RCI VII") (an entity managed by Rapha Capital), participated in ControlRad, Inc.'s ("ControlRad") Series B financing, led by Questa Capital. The $15 million growth financing will be used to fuel the ongoing commercial launch of ControlRad's Trace system – the first FDA-cleared technology that can be integrated into existing mobile C-arms to reduce radiation in any fluoroscopically guided procedure. RCI VII participated through a convertible note that converted into Series B stock at a discount concurrent with this financing.
Rapha Capital is an investment management firm focused on making strategic investments in early stage, non-public biotechnology companies, through special purpose joint venture entities which it manages. Rapha Capital was founded by its President, Kevin Slawin, M.D., a successful and experienced oncologic and robotic surgeon. After leaving practice, Dr. Slawin has been serving as a biotech consultant, investor, and founder, focusing on disruptive technologies in oncology, T cells and immunotherapy, and other breakthrough healthcare technologies. He is the founder of Bellicum Pharmaceuticals, Inc. ("Bellicum"), a publicly traded company listed on NASDAQ, leading Bellicum to a successful $161 million IPO in December, 2014. He also plays a guiding role in several of the investments managed by Rapha Capital in certain companies, serving as a board member at both AsclepiX Therapeutics, Inc. (http://www.asclepix.com/) and 3DBio Therapeutics, Inc. (https://3dbiocorp.com/) .
"Reducing radiation exposure to both physicians and patients undergoing fluoroscopic procedures without compromising image quality or requiring cumbersome lead shielding that hampers the physician's dexterity has been the holy grail in the development of next generation fluoroscopic C arms. ControlRad's technology dramatically reduces radiation exposure by up to 89% without compromising image quality in the region of interest or altering workflow," commented Kevin Slawin, MD. "As a urologist who has performed countless fluoroscopic procedures to manage a diverse range of urologic diseases like urinary strictures and stones, I appreciate the advance that ControlRad's technology brings to improve the care of patients while protecting physicians from the negative health effects of chronic radiation exposure. Our investment in ControlRad fulfills our mission at Rapha Capital to identify high impact technologies at the earliest stage that have the capacity to profoundly improve peoples' lives while building great value," he added.
About Rapha Capital Management, LLC – Rapha Capital Management, LLC is an investment management firm located in Miami, Florida, focusing on strategic investments in early stage, non-public biotechnology companies. Rapha Capital was founded by its President, Kevin Slawin, MD, a successful and experienced oncologic and robotic surgeon, biotech consultant, investor, and founder focusing on technologies in oncology, T cells and immunotherapy, as well as other breakthrough healthcare technologies. He is the founder of Bellicum Pharmaceuticals, Inc., a publicly traded company listed on NASDAQ. He is co-Inventor of the FDA,-approved "prostate health index (phi)" test licensed and marketed by Beckman Coulter and utilized around the world. He has published extensively in top medical and scientific journals including the Journal of the American Medical Association (JAMA), Journal of the National Cancer Institute (JNCI), and the New England Journal of Medicine (NEJM). He has also been routinely listed in America's Top Doctors for Cancer (Castle Connolly Medical) and The Best Doctors in America (Woodward/White). In 2003, he was awarded the F. Brantley Scott, Jr., Award for Innovation and Creativity in Urology.
About ControlRad, Inc.
ControlRad is a privately held medical technology company developing innovative products that dramatically reduce the radiation exposure from fluoroscopically guided procedures (FGP) for patients and healthcare professionals. ControlRad's products are designed to improve safety without compromising image quality or workflow. They include an integrated set of proprietary components, which optimize the X-ray beam to deliver optimal image quality in the clinically relevant region while maintaining appropriate resolution in the periphery. ControlRad is headquartered in Atlanta, Georgia, and has engineering development facilities in Kfar Saba, Israel. For more information, visit www.controlrad.com.
SOURCE Rapha Capital Management, LLC