Aria CV, United States’ healthcare service specializes in treating pulmonary hypertension reported a $31 million Series B round led by Xeraya Capital
Aria CV was founded in 2010 by Drs. John Scandura and Karl Vollmers. Aria CV is developing a medical device designed to improve the lives of patients living with the disease of pulmonary hypertension. Aria CV’s device has the potential to improve outcomes by reducing the workload on the right side of the heart.
Aria CV has reported a Series B funding amounting to $31 million led by Xeraya Capital – Malaysian-based venture capital and private equity that looks to generate superior investment returns by cultivating value over the long-term.
“Aria CV is now well-positioned to drive our clinical research forward,” said Dan Gladney, CEO and President of Aria CV. “We are grateful for this validation by our new investors and remain committed to bringing this innovative treatment option to PAH patients,” he added.
The company plans to use the new capital to fund its first clinical study in the US and will also support an Early Feasibility Investigation Study designed to evaluate long term implants of the Aria CV Pulmonary Hypertension System in PAH patients.
The funding comes a week after Aria CV PH System was granted Breakthrough Device Designation by the US Food and Drug Administration, which was aimed to accelerate the FDA review and approval of designated device that may provide more treatment of life-threatening diseases.
Jason Rushton, Partner at Xeraya Capital said, “we’ve worked with Aria CV several years for the opportunity to lead this financing … There is an unmet clinical need with patients suffering from pulmonary arterial hypertension, and we are impressed with the promising results the Aria CV PH System has demonstrated. We look forward to being a supportive partner.”
As part of the financing, Jason Rushton of Xeraya Capital will join Aria CV’s Board of Directors alongside Dan Gladney, Darshana Zaveri (Catalyst Health Ventures), Maria Berkman (Longview Ventures) and Renee Masi (BioStar Ventures).