Supira Medical Closes Financing and Appoints New CEO

March 5, 2020—Supira Medical, formed by Shifamed as part of its medical innovation hub, announced the closing of $35 million in Series B financing.

According to Supira Medical, the funds will be used to advance product development and clinical efforts for the company’s next-generation percutaneous ventricular assist device (pVAD). The pVAD is used in high-risk patients undergoing interventional procedures, such as stent placement and angioplasty to provide temporary mechanical support for patients with severe coronary artery disease or comorbidities, as well as to treat patients experiencing cardiogenic shock.

The company noted that its pVAD technology is designed to provide a low-profile, high-flow solution to improve outcomes for these high-risk patients.

The financing was led by Cormorant Asset Management with participation from The Capital Partnership, 415 CAPITAL, AMED Ventures, and Shifamed Angels.

Additionally, Supira Medical announced the appointment of Nitin Salunke, PhD, as President and Chief Executive Officer. Previously, Dr. Nitin served as Vice President of Research and Development for Medtronic’s Neurovascular business and a member of its management board. Before Medtronic, he was Vice President of Research and Development at Altura Medical and Director of Research and Development Engineering at Cordis Corporation. He began his career of more than 2 decades in the medical device industry with Gore & Associates.