# Adona Medical

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/adona-medical

- Industry: Medical Devices & Equipment
- Headquarters: Los Gatos, US
- Website: www.adonamed.com
- Total disclosed funding: $54M
- Latest round: Series C (Jun 27, 2024)
- Investors on record: 9

## About

Adona Medical, Inc., based in Los Gatos, US, specializes in developing advanced medical technologies for heart failure management, focusing on innovative interatrial shunt systems that enhance patient care and treatment efficacy.Adona Medical, Inc. is dedicated to developing advanced medical solutions for heart failure management. Founded in 2019 in Los Gatos, California, the company has participated in 4 funding deals. Its latest funding round was a Series C, raising USD 13.37 mn on June 27, 2024, led by Cormorant Asset Management alongside several other investors. Brian Fahey serves as both the CEO and founder of the company, building on his experience in the medical technology sector.Adona Medical specializes in developing advanced medical technologies aimed at managing heart failure, particularly through their innovative interatrial shunt system. This system incorporates integrated bi-atrial pressure monitoring, facilitating real-time adjustments to optimize shunting flow for patients with advanced heart failure. The Adona interatrial shunt allows for post-implant manipulation of the shunt lumen size between 5 to 10 mm, and can temporarily expand to 14 mm for left-heart access. Their primary customers include healthcare providers and institutions treating heart failure patients across North America and Europe. The Adona Medical System is currently classified for investigational use only and is not available for sale in any market.Adona Medical’s revenue model is based on partnerships and collaborations with healthcare institutions and medical professionals, focusing on the clinical deployment of their investigational devices. Transactions occur through clinical studies where healthcare providers partner with Adona Medical to utilize the interatrial shunt system. Specific pricing plans for the Adona Medical System have not been disclosed, but the company implements transaction structures aligned with standard medical technology practices, which may include service agreements or clinical study contracts. This model supports their market entry while gathering essential data for future commercialization.In June 2024, Adona Medical, Inc. secured USD 13.37 mn in Series C funding to further develop their adjustable interatrial shunt with integrated bi-atrial pressure monitoring. The company plans to utilize this funding to enhance product development and aims to expand its presence in North America and Europe. They are focused on refining their innovative technologies to improve heart failure management, paving the way for future commercialization and broader market access.

## Funding rounds

- Series C, Jun 27, 2024, $13M — TCP Venture Capital, Cormorant Asset Management, Excelestar Ventures, AMED Ventures, Unorthodox Ventures, PA MedTech VC Fund
- Series B, Apr 29, 2022, $20M — The Capital Partnership, Cormorant Asset Management, Excelestar Ventures, Shifamed, LLC, AMED Ventures, Picard Angst
- Series A, Aug 18, 2020, $20M — Cormorant Asset Management, Excelestar Ventures, AMED Ventures

## Investors

- Cormorant Asset Management (https://capitalatlas.ai/funds/cormorant-asset-management) — Series A, Series B, Series C
- Excelestar Ventures (https://capitalatlas.ai/funds/excelestar-ventures) — Series A, Series B, Series C
- AMED Ventures (https://capitalatlas.ai/funds/amed-ventures) — Series A, Series B, Series C
- The Capital Partnership — Series B
- Shifamed, LLC — Series B
- Picard Angst (https://capitalatlas.ai/funds/picard-angst) — Series B
- TCP Venture Capital (https://capitalatlas.ai/funds/tcp-venture-capital) — Series C
- Unorthodox Ventures (https://capitalatlas.ai/funds/unorthodox-ventures) — Series C
- PA MedTech VC Fund — Series C