New medical device company Adagio Medical might be laying low, but its executives revealed in a securities filing this week that the California startup has secured a $2.5 million investment.
There’s not much publicly available information about what the Laguna Hills-based company is working on, aside from the fact that it’s “focused on finding innovative ways to treat cardiovascular disease in order to improve the quality of people’s lives,” according to its LinkedIn page.
Founded in 2011, it’s a portfolio company of Fjord Ventures, a technology accelerator that provides venture capital and hands-on support to medical startups. Olav Bergheim and Hugh Neuharth, the managing director and chief financial officer at Fjord Ventures, respectively, are listed in the filing as company executives. Bergheim has held management positions at Baxter Healthcare, Immunotherapy Worldwide, BioTech Europe, Baxter Germany and Domain Associates. Neuharth is also the chief financial officer for Cianna Medical, which is developing a method of treatment for early stage breast cancer.
A call to Fjord Ventures was not returned yesterday. Among the firm’s other portfolio companies are Crescendo Bio and Arges Imaging, acquired by Sirona in 2011.
Eighteen million U.S. adults have heart disease and devices like prosthetic heart valves, pacemakers, implantable defibrillators, stents and cardiac support devices comprise a more than $14 billion market in the U.S. today, according to research firm Kalorama Information.
[Blood system photo from BigStock Photos]
