Orange County Business Journal

Heart Valve Maker CardiAQ Raises $37 Million

Vita Reed Friday, November 30, 2012

Irvine-based startup CardiAQ Valve Technologies Inc. said today that it has received $37.3 million in a second round of financing.

CardiAQ is developing a replacement mitral heart valve inserted via a catheter.

The company said it will use the money to “further validate” its technology and expects the funding to carry it through overseas clinical trials.

OrbiMed Advisors LLC, a New York-based venture capital firm, led CardiAQ’s investment. Other investors include Menlo Park-based Versant Ventures Inc., which has an office in Newport Beach.