Velomedix

About Velomedix

Velomedix, Inc. was a medical device company established in 2007 by founders Daniel Burnett, Jared Blanton, and Dan Seidman. Headquartered in Menlo Park, California, the firm focused on the clinical field of therapeutic hypothermia. The company's objective was to develop technology for rapidly inducing mild therapeutic hypothermia to treat patients experiencing ischemic and inflammatory events such as heart attacks, cardiac arrest, and strokes.

Velomedix's core business revolved around developing and commercializing its proprietary hypothermia technology. The technology was designed to rapidly reduce a patient's body temperature to a therapeutic level of 33°C in under 15 minutes, a significant improvement over existing technologies that required one to two hours. This speed was critical for improving clinical outcomes, particularly for patients needing urgent intervention, by minimizing heart muscle loss and enhancing survival rates. The company targeted its products at hospitals and medical centers treating patients for cardiac arrest, acute myocardial infarction (AMI), and ischemic stroke.

Throughout its operation, Velomedix achieved several key milestones. The company successfully raised a total of $23.7 million in funding over four rounds from institutional investors, including Life Science Angels, Longitude Capital, and Wavepoint Ventures. Its first funding round occurred in September 2008, followed by a Series A in November 2009 and a significant Series B round of $10.2 million in late 2011/early 2012. In February 2012, Velomedix received Investigational Device Exemption (IDE) approval from the U.S. Food and Drug Administration (FDA) to begin a clinical trial for its rapid therapeutic hypothermia system in AMI patients. The company also conducted an initial clinical trial in the European Union, called CAMARO, which showed positive neurologic outcomes in cardiac arrest survivors. Despite these developments, the company is now listed as deadpooled and is no longer active.