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Venture Capital
biostar-capital.com

Investments

87

Portfolio Exits

11

Funds

5

About 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.

Headquarters Location

560 W. Mitchell Street #480

Petoskey, Michigan, 49770,

United States

231-487-9186

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Latest BioStar Capital News

Interventional cardiology specialists raise $20M to continue IVL research

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.

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BioStar Capital Investments Activity

investments chart

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

8

8/9/2022

Series B - III

Reva Medical

$45M

Yes

BioStar Capital, and Undisclosed Investors

1

7/20/2022

Series B

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$99M

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10

6/13/2022

Series D - II

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$99M

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10

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

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Amount

$20M

$30M

$45M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

BioStar Capital, and Undisclosed Investors

Sources

6

8

1

10

10

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

$99M

1

7/7/2022

Acquired

$99M

3

5/2/2019

IPO

$99M

Public

2

9/21/2018

IPO

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$99M

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10

8/10/2016

Merger

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$99M

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10

Date

11/1/2022

7/7/2022

5/2/2019

9/21/2018

8/10/2016

Exit

Acquired

Acquired

IPO

IPO

Merger

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

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Sources

1

3

2

10

10

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

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$99M

10

2/1/2005

BioStar Private Equity Fund

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$99M

10

BSV III-XF ASI SPV

10

BioStar Ventures III-XF

10

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

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Status

Closed

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Amount

$67.72M

$99M

$99M

Sources

3

10

10

10

10

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

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Name

Louis A. Cannon

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Work History

Title

Founder, Senior Managing Director

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Status

Current

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