The O.H.I.O. Fund backs T45's $50M second medtech fund
What's the deal? T45 LabsDealroom has a profile for this one. Try Dealroom → has secured an investment in its T45 Fund-II from private funds advised by The O.H.I.O. FundDealroom has a profile for this one. Try Dealroom →, the firms announced November 3, 2026. Terms were not disclosed. The capital supports T45's portfolio of minimally invasive cardiovascular device companies, several based in Cleveland, Ohio.
What's the endgame? T45 Labs is a Silicon Valley-based medtech incubator that builds and funds acquisition-ready cardiovascular companies. It de-risks early technologies and guides them through clinical and regulatory milestones toward an exit. Fund-II follows an oversubscribed Fund-I that backed three cardiovascular-device companies.
Who's involved? T45 was founded by Marwan Berrada-Sounni, formerly senior director of product development at Cleveland Clinic's Global Cardiovascular Innovation Center. Its portfolio includes Advanced NanoTherapies, a drug-coated balloon company that licensed its technology from the Cleveland Clinic and recently closed over $31 million in Series B funding. Other holdings span structural heart, coronary and imaging projects.
Why now? The investment fits The O.H.I.O. Fund's thesis of backing sectors where Ohio has strengths, including healthcare and medtech. The firm reported $647 million in committed capital by March 2026.
"Ohio has tremendous healthcare and research assets, including institutions like the Cleveland Clinic that are producing exciting medical innovations to meet patient needs," said Ray Leach, president of The O.H.I.O. Fund.
The signal: The deal shows regional capital flowing into a company-building model tied directly to local research. It connects Cleveland Clinic innovation with development and manufacturing in Ohio — a targeted bet on the state's medtech base rather than a headline fundraising milestone.
Read more: prnewswire.com
Image credit: T45 Labs
