T45 Fund-II Secures Investment from Private Funds Advised by The O.H.I.O. Fund

Investment backs T45's cardiovascular company-building model, connecting Cleveland Clinic innovation with company development and manufacturing in Ohio

T45 Labs, a company that builds and funds acquisition-ready cardiovascular companies by de-risking breakthrough technologies and steering them through clinical and regulatory milestones, today announced an investment through private funds advised by The O.H.I.O. Fund in its T45 Fund-II. The O.H.I.O. Fund is a private investment firm focused on generating strong returns for investors while creating economic growth in Ohio. The investment in T45 Fund-II supports the continued development of T45 Labs' portfolio of minimally invasive cardiovascular devices in Cleveland, Ohio. Terms of the investment were not disclosed.

T45 Labs was created by Founder and Managing Partner Marwan Berrada-Sounni, who previously served as senior director of product development at Cleveland Clinic's Global Cardiovascular Innovation Center. T45's first portfolio company, Advanced NanoTherapies (ANT), is advancing drug-coated balloon (DCB) technology that was invented in and licensed from Cleveland Clinic. The company manufactures its DCB platform in Ohio and has recently reached the Series B funding stage.

Earlier this year, T45 deepened its Cleveland Clinic ties through a partnership with Mitria Medical, a structural heart company founded by the institution. The partnership expanded T45's portfolio with the Subvalvular Spacer, an investigational transcatheter device Mitria is developing for functional mitral regurgitation. T45's portfolio also includes VahatiCor, a coronary sinus reducer therapy company, and an intravascular ultrasound firm called NuevoSono.

"Ohio has tremendous healthcare and research assets, including institutions like Cleveland Clinic that are producing new medical innovations," said Ray Leach, president of The O.H.I.O. Fund. "T45 brings the operating model and expertise to help turn those innovations into companies and move promising technologies toward the market. It's a great example of how Ohio's research strengths can create new opportunities for investment and growth."

"At T45 Labs, we focus on de-risking proven cardiovascular technologies by improving on early concepts and guiding them through the clinical and regulatory milestones that lead to an exit," said T45's Berrada-Sounni. "We built T45 Fund-II to accelerate this process, and The O.H.I.O. Fund's investment helps us get these technologies closer to the patients and physicians who need them."

The investment from The O.H.I.O. Fund also reflects its strategy of investing in industries where Ohio has established strengths, including healthcare and medtech, while supporting the state's long-term economic growth.