Astia Angels invests in medical device company RenovoRx
SAN FRANCISCO, CA | December 17, 2013
Astia Angels invests in medical device company for treatment of pancreatic cancer
Astia Angels earns investment slot in highly competitive series B raise for RenovoRx.
Astia Angels announces its investment in Silicon Valley based, RenovoRx. Led by CEO, Marta Gaia Zanchi, PhD , the company has developed an innovative device enabling direct and localized delivery of radiopaque media and therapeutic agents to the peripheral vessels including the pancreatic. RenovoRx anticipates the solution may significantly enhance established and developing treatment options for pancreatic cancer patients.
“We are thrilled to count Astia Angels among our key Series B investors and are very excited about the relationship with this outstanding investment community,” commented CEO, Marta Gaia Zanchi, PhD. “We are profoundly impressed by the professionalism of the group and look forward to continuing to build strong, trusted ties with Astia Angels investors and with the remarkable business ecosystems the group has created since its inception. RenovoRx views this investment decision not only as recognition that we are going after a largely unmet and important need, but also as validation of our passion and smart, efficient business model for developing solutions for targeted delivery of fluids to the peripheral vascular system. We look forward to a very exciting and successful year 2014 for RenovoRx and Astia Angels, as we share the rewarding experience of achieving the important milestones funded by this financing round.”
RenovoRx Board member Una Ryan, PhD, introduced RenovoRx to Astia Angels, of which she is a member. According to Ryan, “I am delighted to have been able to bring RenovoRx to the attention of my friends at Astia Angels. The company has an innovative product addressing one of the most tragic forms of cancer. RenovoRx has devised an adjustable double-balloon catheter that can deliver chemotherapeutic agents precisely tailored to the individual anatomy of the patient’s pancreas and tumor location. We hope that this innovation will allow angels to participate in bringing a much needed benefit to patients.”
Also participating in the round were prior investors in the company’s Series A round which included The Angels Forum, Halo Fund, Sand Hill Angels and Golden Seeds. The funding process was extremely competitive, with RenovoRx exceeding its initial target and raising $1,150,000.
This marks Astia Angels’ third investment since its formation in early 2013. The first two investments were nVision Medical and EcoTensil.
Astia Angels holds meetings every other month in the Bay Area. Its next member meeting is January 16th, hosted by DLA Piper. In early 2014, Astia Angels will begin to hold meetings in New York City and is currently building East Coast membership. Individuals interested in learning more about Astia Angels should contact Victoria Pettibone, Vice President, Astia, email@example.com
About Astia Angels
Astia Angels is a global network of female and male angel investors that invests in women-led, high-growth ventures that apply to Astia. The angel investor network is led by an active manager and experienced Founding Astia Angels. All members are highly involved throughout the investment process and make independent investment decisions.
Astia is a unique not-for-profit built on a community of experts with a distinct focus and mission: to propel women’s full participation as entrepreneurs and leaders in high-growth businesses, fueling innovation and driving economic growth. Astia works with women-led start-ups around the world to help them acquire essential business skills, access capital, dramatically grow their businesses, create networks and develop the executive leadership of the women on the founding teams.