Investments
87Portfolio Exits
11Funds
5About BioStar Capital
BioStar Capital is a value-add investor focused on transformational medical device technologies in cardiovascular and orthopaedic medicine. Combining the insight of experienced investment professionals and medical thought leaders, BioStar Capital identifies proprietary technologies that serve unmet patient needs and fit the acquisition criteria of leading medical device companies. BioStar Capital fills an important gap in medical device development and provides operational skills and clinical expertise in addition to capital, enabling the firm to actively mitigate risk, optimize product development, and secure successful exit.

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Latest BioStar Capital News
Jan 9, 2023
Image courtesy of AVS. AVS, a Michigan-based medical device company focused on interventional cardiology, has raised $20 million in Series B financing. The funding is expected to help AVS ramp up work on its Pulse Pulsatile-Intravascular Lithotripsy (P-IVL) system, a new device designed to treat peripheral artery disease (PAD) by breaking down calcium deposits and expanding calcified arteries. The POWER PAD 1 clinical trial, designed to examine the safety and effectiveness of the Pulse IVL system, is now underway. This first-in-human evaluation will include data from a cohort of 20 patients, and AVS has said that initial findings from the trial are positive. “Our early trial results showed that we can successfully treat patients with multiple lesions using a single device,” Jon George, MD , an interventional cardiologist with the University of Pennsylvania health system and medical advisor for AVS, said in a prepared statement . “We saw patients report a reduction in leg pain, increase in blood flow to the leg, and improvement in their ability to walk in our initial study. This is a patient population that needs easier access to advanced therapies and this platform has the potential to provide that access.” “AVS is one step closer to offering a new treatment solution for patients with severely calcified peripheral arterial disease and progressing toward preclinical studies for coronary cases,” added Mark Toland, executive chairman and CEO of AVS. “Patients in this disease state too often face the prospect of limb amputation due to a lack of treatment options. We see a significant opportunity to address that need and advance the intravascular lithotripsy space through minimally invasive technology in both peripheral and coronary therapy.” Toland also serves as the managing director of BioStar Capital, the investment firm that led this funding round. BioStar Capital previously led AVS’s Series A funding round. “We are excited to partner with AVS as it looks to future clinical trials and development,” Louis Cannon, MD, founder and senior managing partner of BioStar Capital, said in the same statement. The Pulse P-IVL system is still in development and it has not yet been cleared for commercial use in any country.
BioStar Capital Investments
87 Investments
BioStar Capital has made 87 investments. Their latest investment was in Amplitude Vascular Systems as part of their Series B on October 10, 2022.

BioStar Capital Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
10/26/2022 | Series B | Amplitude Vascular Systems | $20M | No | 6 | |
9/13/2022 | Series D | Delphinus Medical Technologies | $30M | Yes | Arboretum Ventures, Beringea, BioStar Capital, Hopen Life Sciences Ventures, North Coast Technology Investors, Undisclosed Investors, Venture Investors, and Waycross Ventures | 8 |
8/9/2022 | Series B - III | Reva Medical | $45M | Yes | BioStar Capital, and Undisclosed Investors | 1 |
7/20/2022 | Series B | |||||
6/13/2022 | Series D - II |
Date | 10/26/2022 | 9/13/2022 | 8/9/2022 | 7/20/2022 | 6/13/2022 |
---|---|---|---|---|---|
Round | Series B | Series D | Series B - III | Series B | Series D - II |
Company | Amplitude Vascular Systems | Delphinus Medical Technologies | Reva Medical | ||
Amount | $20M | $30M | $45M | ||
New? | No | Yes | Yes | ||
Co-Investors | Arboretum Ventures, Beringea, BioStar Capital, Hopen Life Sciences Ventures, North Coast Technology Investors, Undisclosed Investors, Venture Investors, and Waycross Ventures | BioStar Capital, and Undisclosed Investors | |||
Sources | 6 | 8 | 1 |
BioStar Capital Portfolio Exits
11 Portfolio Exits
BioStar Capital has 11 portfolio exits. Their latest portfolio exit was SynergEyes on November 01, 2022.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
11/1/2022 | Acquired | 1 | |||
7/7/2022 | Acquired | 3 | |||
5/2/2019 | IPO | Public | 2 | ||
Date | 11/1/2022 | 7/7/2022 | 5/2/2019 | ||
---|---|---|---|---|---|
Exit | Acquired | Acquired | IPO | ||
Companies | |||||
Valuation | |||||
Acquirer | Public | ||||
Sources | 1 | 3 | 2 |
BioStar Capital Fund History
5 Fund Histories
BioStar Capital has 5 funds, including BioStar Ventures III.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
9/16/2015 | BioStar Ventures III | Early-Stage Venture Capital | Closed | $67.72M | 3 |
9/30/2010 | BioStar Ventures II LP | ||||
2/1/2005 | BioStar Private Equity Fund | ||||
BSV III-XF ASI SPV | |||||
BioStar Ventures III-XF |
Closing Date | 9/16/2015 | 9/30/2010 | 2/1/2005 | ||
---|---|---|---|---|---|
Fund | BioStar Ventures III | BioStar Ventures II LP | BioStar Private Equity Fund | BSV III-XF ASI SPV | BioStar Ventures III-XF |
Fund Type | Early-Stage Venture Capital | ||||
Status | Closed | ||||
Amount | $67.72M | ||||
Sources | 3 |
BioStar Capital Team
11 Team Members
BioStar Capital has 11 team members, including current Founder, Senior Managing Director, Louis A. Cannon.
Name | Work History | Title | Status |
---|---|---|---|
Louis A. Cannon | Founder, Senior Managing Director | Current | |
Name | Louis A. Cannon | ||||
---|---|---|---|---|---|
Work History | |||||
Title | Founder, Senior Managing Director | ||||
Status | Current |
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