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Financings In Brief

This article was originally published in The Gray Sheet

Executive Summary

TherOx raises $30 million: Privately held developer of the DownStream SuperSaturated Oxygen Therapy system for adjunctive treatment of acute myocardial infarction raises $30 million from DAG Ventures and other investors. A PMA application for the device is pending. Downstream is designed to reduce infarct size and preserve heart muscle after a severe heart attack by super oxygenating a patient's blood for direct re-infusion to oxygen deficient tissue after a patient has already been treated with balloon angioplasty and a stent. Based in Irvine, Calif., the firm reported results last October from its pivotal, 300-patient AMIHOT II trial, including a statistically significant 6.5% reduction in infarct size using the device. Other potential applications for the technology include ischemic stroke, cancer and wound healing, according to the company (1"The Gray Sheet" Dec. 3, 2007, p. 15)
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