MemorialCare Innovation Fund contributed to a series D round that brought the Caltech spinout's overall funding to more than $36m.
Foldax, a US-based producer of biopolymer heart valve implants spun out of California Institute of Technology (Caltech), completed a $20m series D round featuring the university yesterday.
Healthcare provider MemorialCare’s Innovation Fund led the round, which also included Angel Physicians Fund, investment firm BioStar Capital and venture capital firms Kairos Ventures and Sayan Bioventures.
Founded in 2014, Foldax designs and manufactures artificial heart valve implants made from biopolymers to prevent the build-up of calcium deposits in the body.
