iRiva Medical Completes Initial Financing Round
iRiva Medical, Inc., a prominent development stage medical device company, has successfully closed its initial financing round. This exciting advancement was led by F-Prime and saw contributions from esteemed partners such as Hatteras Venture Partners, Norwest, and Treo Ventures. The funds raised are critical for the company as it charts a course toward developing and commercializing groundbreaking neuromodulation technology platforms aimed at addressing the needs of patients experiencing chronic diseases.
Leadership Changes with New CEO
In conjunction with the financing, iRiva announced the appointment of Steve Masson as its new President and Chief Executive Officer. Mr. Masson brings over 40 years of experience in the medical device sector, with a strong background in active implantable devices. His career includes significant senior roles for over three decades in various settings, including startup environments and larger, established companies such as Cordis, Ventritex, InnerPulse, NeuroTronik, and Avivomed.
Partnerships and Future Aspirations
Mr. Masson expressed his enthusiasm about teaming up with the investor group and highlighted the importance of their vast experience in the medical technology and neuromodulation domains. He stated he is eager to work collaboratively with the iRiva team to provide innovative therapies that will greatly benefit patients and healthcare professionals.
About NuXcel
iRiva is the fourth venture to emerge from NuXcel, a well-respected medical device accelerator directed by Mudit Jain and Lynn Elliott, supported by Treo Ventures. Lynn Elliott, the founder and Chief Technology Officer of NuXcel, remarked on the excitement surrounding Mr. Masson’s involvement and the invaluable support from world-class investors. This partnership aims to provide innovative solutions that align with iRiva's mission to enhance treatment options for chronic conditions.
Collaborative Efforts for Success
Kevin Chu, a Principal at F-Prime, also shared his excitement about collaborating with Steve Masson, the NuXcel team, and their impressive group of investors. He noted the mission of iRiva Medical is powerful, highlighting the critical role of delivering new neuromodulation therapies that address significant clinical needs and improve patient outcomes.
Commitment to Innovation and Patient Care
The successful closure of this financing round marks a significant milestone for iRiva Medical. With a dedicated team and strong leadership, the company is poised to innovate within the medical device field by providing therapies focused on neuromodulation. They aim to make impactful changes in the lives of patients with chronic diseases.
Frequently Asked Questions
What is iRiva Medical's primary focus?
iRiva Medical focuses on developing neuromodulation technology platforms to treat chronic diseases.
Who is the new CEO of iRiva Medical?
The new CEO is Steve Masson, a seasoned executive with extensive experience in the medical device industry.
What is the significance of the recent financing?
The financing will allow iRiva to advance its research and commercialization of innovative medical technologies.
Which organizations led the financing for iRiva Medical?
The financing was led by F-Prime, with participation from Hatteras Venture Partners, Norwest, and Treo Ventures.
What is NuXcel?
NuXcel is a medical device accelerator that supports innovative startups, including iRiva Medical, to foster growth in technology development.
