# Foldax

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/foldax

- Industry: Medical Devices & Equipment
- Headquarters: Salt Lake City, US
- Website: www.foldax.com
- Total disclosed funding: $20M
- Latest round: Series D (Jun 22, 2020)
- Investors on record: 6

## About

Foldax, Inc. is dedicated to developing innovative heart valve solutions, featuring its TRIA™ Mitral Valve, which caters to diverse patient populations with unique needs and enhances heart valve technology with biocompatible materials.Founded in 2013 in Salt Lake City, US, Foldax, Inc. specializes in cardiac medical devices, particularly heart valves. The company has engaged in five funding deals, with the most recent being a Series D round in June 2020 that raised USD 20 mn, led by MemorialCare Innovation Fund. Frank Maguire serves as CEO, bringing a wealth of experience in the medical technology sector.Foldax® specializes in innovative heart valve solutions, with its flagship product being the TRIA™ Mitral Valve, designed for varied patient demographics, including those with rheumatic heart disease. The valve, made from the proprietary LifePolymer™, is biocompatible and minimizes calcification, eliminating the need for animal materials. The company employs robotic automation for precision in manufacturing, ensuring scalability and meeting healthcare demands. The TRIA™ valve has received health authority approval in markets like India, targeting healthcare professionals and institutions globally.Foldax® generates revenue from the direct sale of TRIA™ heart valves and related products to healthcare providers. Transactions focus on bulk orders through partnerships with medical facilities, ensuring product availability and support services. Although specific pricing is not disclosed, the revenue model relies on the ongoing demand in markets where regulatory approvals have been granted, allowing the company to advance its product offerings.In June 2020, Foldax, Inc. raised USD 20 mn in Series D funding to support its upcoming initiatives. The company aims to introduce new products designed for expanded applications in heart valve solutions, while concurrently targeting markets in Asia and Europe for expansion by 2023. Recent funding will facilitate research and development of additional heart valve technologies, enhancing the company’s market presence and addressing diverse patient needs.

## Funding rounds

- Series D, Jun 22, 2020, $20M — BioStar Capital, MemorialCare Innovation Fund, CalTech, Kairos Ventures, Sayan Bioventures, Angel Physicians Fund
- Series A, Aug 28, 2015 — Kairos Ventures

## Investors

- Kairos Ventures (https://capitalatlas.ai/funds/kairos-ventures) — Series A, Series D
- BioStar Capital (https://capitalatlas.ai/funds/biostar-capital) — Series D
- MemorialCare Innovation Fund (https://capitalatlas.ai/funds/memorialcare-innovation-fund) — Series D
- CalTech (https://capitalatlas.ai/funds/caltech) — Series D
- Sayan Bioventures — Series D
- Angel Physicians Fund (https://capitalatlas.ai/funds/angel-physicians-fund) — Series D