We are excited to announce that Foldax is the latest company to join our portfolio, following our investment in their recent Series A round.
Based in Salt Lake City, Utah, Foldax is a leader in developing synthetic heart valve products with the goal of delivering non-thrombogenic aortic and mitral valves at dramatically lower costs to existing artificial or tissue valves.
“Foldax valves are very exciting, as they combine the advantages of artificial valves and animal-tissue valves currently in the market, without any of their respective disadvantages.”
– James Demetriades
Currently, patients have one of two options, each with its own set of advantages and disadvantages, artificial valves or animal-tissue valves.
“Foldax valves are very exciting, as they combine the advantages of artificial valves and animal-tissue valves currently in the market, without any of their respective disadvantages,” says Jim Demetriades, who will be joining the Foldax Board.
Specifically, their lifespan is projected to be as long as, if not longer than, the artificial heart valves, but they would not require the administration of any blood thinning medications. As a result, patients will enjoy a much higher quality of life for a much longer period since the need for replacement surgery will get dramatically reduced. Moreover, these benefits come with a significant cost advantage – more than 15-20 times cheaper than the current alternatives!
We are thrilled about our investment in Foldax and would like to welcome them to the extended Kairos Ventures family.