Veritas Aortic Solutions Announces $12 Million Seed Financing

Gunderson Dettmer represented Veritas Aortic Solutions in its $12 million seed financing. The round was led by a group of experienced MedTech angel investors with strong participation from Cedars-Sinai Intellectual Property Company and existing investors. 

Veritas is committed to improving outcomes for patients with Aortic Disease. Its flagship technology, the Veritas Transcatheter Valved Aortic Root Conduit (TVARC), is a single permanent implant that combines a bioprosthetic aortic valve, ascending aortic graft, and the company's proprietary Chameleon Eye™ coronary perfusion ports, and is designed to seal-off the diseased or damaged part of the aorta and restore healthy blood flow to the coronaries and the rest of the body. The new capital will support the continued development of TVARC through first-in-human clinical use. 

“With combined mortality and morbidity rates as high as 65%, it is hard to overstate the risk associated with current surgical treatments for acute conditions of the ascending aorta,” said Arshad Quadri MD, Co-Founder, Executive Chairman and Chief Medical Officer of Veritas Aortic Solutions, in the announcement of the transaction. “As a cardiac surgeon myself, I have performed these procedures numerous times. They are complex, challenging, and highly invasive. It has always been a dream of mine to be able to offer these patients a faster, safer, less-invasive option, and today we are one step closer to making that a reality.”

The Gunderson deal team was led by Rich Hesp and included Marna Pattaropong and Kelly Flanagan.