Cordis Makes Strategic Investment in E2, a developer of Next-Generation Thrombectomy Devices
Move signals new chapter of innovation for Cordis
Miami Lakes, Florida – April 5, 2022 – Cordis today announced a strategic investment venture that will expand the scope of the global cardiovascular technology company into the Venous Thromboembolism Market (VTM) with a strategic investment in Endovascular Engineering (“E2”), a developer of next-generation thrombectomy devices to treat patients with Deep Vein Thrombosis (DVT) and Pulmonary Embolism (PE).
DVT occurs when a blood clot forms in the deep veins, usually in the pelvis or leg. DVT can be fatal if a blood clot breaks free and travels through the heart and lodges in the lung arteries causing PE, the third most common cause of cardiovascular death after coronary artery disease and stroke.
"Our investment in E2 positions Cordis at the vanguard of innovation in venous interventions," said Duke Rohlen, Executive Chairman of Cordis and CEO of Cordis-X, an independent accelerator created to drive innovation and growth for Cordis. "We are proud to support the team's efforts to define a new standard of care for patients suffering from thromboembolism."
Cordis is partnering with Santé Ventures and another strategic investor in the E2 transaction.
According to Cordis CEO Shar Matin, “Our investment in E2 meets all the criteria in our strategy to fuel differentiated technology development, expanding our portfolio with innovative and clinically compelling solutions that respond to unmet needs in cardiovascular health. Growing our venous offerings expands our capacity to improve outcomes and deliver better quality of life to more patients around the world.”
“Our new business model leverages the robust global corporate infrastructure and sales capacity of Cordis, and the speed, creativity, and agility of the Cordis-X growth engine,” Matin continued. “DVT and PE affect patients young and old. The investment in E2 supports Cordis’ legacy as a leader in creating lifesaving cardiovascular technologies.”
E2, based in Menlo Park, California, was founded in 2019 to focus on development of advanced mechanical thrombectomy solutions. CEO Mike Rosenthal said, “The E2 team is thrilled to welcome Cordis and our other investment partners as we join together to help us further the pursuit of developing healthcare solutions that matter. We share a pioneering spirit dedicated to serving patients and physicians in the underserved peripheral indications.”
Cordis is a worldwide leader in the development and manufacturing of interventional cardiovascular technologies with a more than 60-year history of pioneering breakthrough therapies to treat millions of patients. With a reputation for clinical acumen, training, and service, Cordis has a legacy of innovation in high-quality and minimally invasive cardiovascular products, building a strong global footprint with operations in more than 70 countries around the world.
Cordis-X, an independent innovation accelerator based in Menlo Park, California, provides a streamlined model of medical device innovation built for speed, agility, and value maximization. Through its relationships with Ajax Health and Cordis, Cordis-X is able to quickly identify, evaluate, develop, and invest in emerging technologies that can expand the depth, breadth, and impact of the Cordis product portfolio.
Endovascular Engineering (“E2”), based in Menlo Park, California, is a preclinical stage company developing novel mechanical thrombectomy solutions to address peripheral indications. The company was founded in 2019 by Dr. Luis Savastano, and the platform technology was advanced through his partnership with Santé Ventures and Inventure Group.
About Santé Ventures
Founded in 2006, Santé Ventures is a specialized healthcare and life sciences investment firm with nearly $1BN in capital under management. The firm invests in early-stage companies developing innovative new medical technologies, biotechnologies, and digitally enabled healthcare services. Recent Santé successes include Farapulse (Boston Scientific), Claret Medical (Boston Scientific), TVA Medical (Becton Dickinson), Millipede Medical (Boston Scientific), Molecular Templates (MTEM), AbVitro (Celgene), and Explorys (IBM Corp). Santé invests nationally and has offices in Austin, TX, and Boston, MA. For more information, please visit www.sante.com.
Kurt Haggstrom, Global Vice President, Cordis