Ardian completes $47 Million financing led by Medtronic
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Palo Alto: Ardian, developer of catheter-based medical device to treat hypertension, has announced that Medtronic, a medical technology company, has led a $47 million financing of the company. Joining Medtronic are Ardian's three existing investors including Advanced Technology Ventures, Morgenthaler Ventures and Split Rock Partners, as well as new investor Emergent Medical Partners. Hypertension, which affects approximately one-third of the developed world's adult population, significantly increases the risk of heart attack, stroke, heart failure and chronic kidney disease. It is the single most common contributor to death worldwide. Surprisingly, only 35% of hypertensive patients are satisfactorily controlled with medication. A major contributor to the development and perpetuation of hypertension is hyper-activation of the sympathetic nervous system. Ardian's Symplicity Catheter System disrupts the renal sympathetic nerves by means of a straightforward 40-minute procedure, thereby reducing sympathetic activation and hence blood pressure. Andrew Cleeland, President and CEO of Ardian, said, "We are encouraged to have Medtronic as a new partner, and see their investment as a validation of our exceptional early clinical results, as well as the potential of our treatment for such a pervasive and complex disease." Commenting on the investment by Emergent Medical Partners, led by Dr. Thomas J. Fogarty, Cleeland said, "Dr Fogarty is a legend in the cardiovascular field, and having him make an investment speaks volumes for the promise of this technology." "Closing this financing with such great strategic partners would be impressive in the best of times, and in this difficult financial environment it is even more so," said Mike Carusi.

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