CardioMEMS Recognized by Georgia Bio for Pivotal Strategic Partnership
ATLANTA, Jan. 21, 2011 /PRNewswire/ -- CardioMEMS, Inc., an Atlanta-based medical technology company that has developed and is commercializing a proprietary wireless sensing and communication technology for the human body, has earned a Georgia Bio (GaBio) 2011 Deal of the Year award. CardioMEMs was recognized in the Strategic Partnership category for the $60 million equity investment it secured from St. Jude Medical (NYSE: STJ). The investment, which was made in September 2010, followed the successful completion in 2010 of CardioMEMS' CHAMPION clinical study of its wireless, implantable pressure monitor for heart failure.
Georgia Bio announced its 2011 Deal of the Year awards for medical device and biopharmaceutical companies at the GaBio Annual Awards Dinner held at Atlanta's Fox Theater on January 20. The annual awards recognize transactions by life sciences companies in Georgia that are significant to the state's industry development. To reflect a broad range of activity in the midst of a challenging economic environment, the awards are given in four categories: public and private financings, strategic partnerships and product launches.
"We are proud to be recognized by Georgia Bio," said Jay Yadav, M.D., founder and CEO of CardioMEMS and an interventional cardiologist. "We have achieved our immediate goals with the successful conclusion of the CHAMPION trial. As we work toward the commercialization of this promising technology, we are excited to partner with St. Jude Medical and its significant expertise and focus in heart failure disease and cardiac rhythm management."
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