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January 29, 2008

NeoChord CEO interview

A video interview of NeoChord CEO John Seaberg came to my attention today. It was done by OneMedPlace. For anyone interested in medical device companies based around Mayo Clinic technology, this is worth watching (though it is not as amusing as the Mayo Clinic Express Care video).

Interview with John Seaberg, CEO of NeoChord from Doug Cress on Vimeo.
Some interesting points
• He estimates market for mitral valve repair device at between $1 billion to $2.5 billion.

• NeoChord raised $1,765,000 in 2007 from angel investors via a convertible debt offering.

• Two humans have already had the procedure done at Mayo Clinic and both are in good shape around two years later.

• NeoChord is now seeking $6.5 million in Series A Institutional round of funding.

• The plan is to commence a feasibility trial by the end of 2008.

• Quote - "We like our competitive position quite a bit," Seaberg said.

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Great video. I think this is very viable idea. The market for minimally invasive MV repair looks to me (a business novice) competitive but I intutively like NeoChord's concept. It restores the fundamental problem by mimicing nature.

Congratulations, and good luck!

A Damle
CV Surgeon

Congratulations

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