UPDATE:
An earlier version of this story depended on Rox Medical’s website and SEC filings for information. But CEO Rodney Brenneman, who returned a call after the story was published, said those were not fully accurate.
Name of Company: Rox Medical Inc.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Industry: Medical devices
Location: San Clemente, California
Solution/Product: Rox Flow proedure, which places an implanted device delivered via a catheter for patients suffering from uncontrolled hypertension.
Money Raised: $6 million, according to CEO Rodney Brenneman; company has raised $53.1 million, excluding this round, since 2004.
How it will be used: To fund a randomized trial called CONTROL-HTN of 100 patients outside the U.S.
Investors: Versant Ventures Domain Associates (previous investors: Essex Woodland and Prism VentureWorks
Management team: Rodney Brenneman, President & CEO; Chris Yelley, Director of Operations; Peter Balmforth, Director of Sales and Clinical Support, Europe
Market size: Same as or slightly larger than the renal denervation market, said Brenneman. The renal denervation market has the potential to be a $2.9 billion market by 2021, according to Millennium Research Group.
[Photo Credit: freedigitalphotos user Salvatore Vuono]
