Ablative Secures $77 Million Investment

Jan 9, 2019 | CVD, Investment

Investment

As reported by Mark Sanchez of MiBiz ,Ablative Solutions recent  $77 million investment ranks as the largest known venture capital deal ever in Michigan, possibly helping draw more attention to the state’s life sciences research and development. Netherlands-based Gilde Healthcare led the Series D financing round in Kalamazoo-based Ablative Solutions, which developed a catheter system to treat uncontrollable hypertension by deactivating nerves in renal arteries. Petoskey-based BioStar Ventures, Michigan Accelerator Fund 1 in Grand Rapids, and Novus Biotechnology Fund in Kalamazoo co-led the venture capital round, which includes an unnamed major strategic investor and several local investors, some of whom have backed the company since its beginning in 2011.  The investment will fund the company over three to four years through a pivotal late-stage clinical trial in the U.S. and Europe to prove the treatment’s safety and effectiveness, then through U.S. regulatory approval and, if successful, a possible sale and exit for investors.

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