Press Release:

SynCardia Systems Closes $3.7 Million Series B Financing

Funding to be Used for Completion of FDA Process and Advancement of Technology

TUCSON, Ariz. – May 24, 2004 – SynCardia Systems, Inc., a privately held developer of biomechanical cardiac replacement and assist devices, announced today the completion of a Series B financing of $3.7 million. The round was financed by private investors.

“This round of financing provides strong validation from the investment community on the utility of our Total Artificial Heart system,” said Dr. Marvin J. Slepian, President and CEO, SynCardia. “We are grateful to our investors and plan to use the financing to complete the FDA approval process and further advance the product development and commercialization of the CardioWest™ temporary Total Artificial Heart.”

In addition to completion of the FDA process, SynCardia plans to use the funds to continue development of the CardioWest™ temporary Total Artificial Heart (TAH-t) system, including bringing forward several new, smaller and portable driver technologies that provide greater patient mobility. SynCardia also plans to introduce the TAH system at additional centers in Europe. Finally, the financing may be used as a stepping stone to initiate “next step” clinical studies in the U.S. aimed at patient discharge and “destination therapy.”


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About SynCardia Systems, Inc.

SynCardia Systems, Inc. is the Tucson-based manufacturer of the world’s only FDA, Health Canada and CE approved Total Artificial Heart: the SynCardia temporary Total Artificial Heart. There have been more than 850 implants of the Total Artificial Heart, accounting for more than 190 patient years of life on the device. 

Originally used as a permanent replacement heart, the Total Artificial Heart is currently approved as a bridge to human heart transplant for people dying from end-stage biventricular failure. The Total Artificial Heart is the only device that provides immediate, safe blood flow of up to 9.5 L/min through both ventricles.

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Media Contact:
Don Isaacs
Vice President of Communications
SynCardia Systems, Inc.
Cell: (520) 955-0660

 

 

*The SynCardia temporary Total Artificial Heart was formerly known as the
SynCardia temporary CardioWest™ Total Artificial Heart.