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California startup developing minimally invasive devices to treat stroke raises $6.5M

3:48 pm by | 0 Comments

dollars, wealth

SCROLL DOWN FOR UPDATE INCLUDING CEO COMMENTS

An early stage California startup developing minimally invasive devices to treat stroke has raised $6.5 million.

Medina Medical, based in Mountain View, is seeking another $3 million, according to a recent regulatory filing.

The company does not disclose much on its website, including who its management comprises. But the cofounder and CEO appears to be Kimberly Vogel, who according to her LinkedIn profile, worked at Google as a public relations and sales/marketing professional and was the search giant’s 28th employee. Vogel has also worked as a wealth advisor at Morgan Stanley. She could not be immediate reached at the Medina Medical office in Mountain View.

Other board members are Maria Aboytes, who appears to have worked at Ardian, the company that developed a renal denervation system and was acquired by Medtronic; Bakir Begovic and Annette Franqui.

UPDATE:

CEO Vogel responded Tuesday and explained that the device is actually an implantable product designed to treat brain aneurysms.   Early investors in the company are Thomas Fogarty, the famed medical device inventor of the balloon catheter and cardiovascular surgeon; Wilson Sonsini Investment Management and Covidien.

The money will be used to fund a first-in-man clinical study and to obtain CE Mark for commercialization in Europe. Vogel said the device is not a stent and would not use any kind of neuromodulation, but declined to explain how the technology works out of a desire to fly under the radar in the very “competitive neurovascular space.’

The company has seven employees and was co-founded by Vogel and Aboytes, the company’s chief technology officer and director, who holds more than 50 patents, including in six

 

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Arundhati Parmar

By Arundhati Parmar

Arundhati Parmar is the Medical Devices Reporter at MedCity News. She has covered medical technology since 2008 and specialized in business journalism since 2001. Parmar has three degrees from three continents - a Bachelor of Arts in English from Jadavpur University, Kolkata, India; a Masters in English Literature from the University of Sydney, Australia and a Masters in Journalism from Northwestern University in Chicago. She has sworn never to enter a classroom again.
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