Posts Tagged ‘viacor Inc’

Gerbsman Partners – Maximizing Enterprise Value – Partial Client List

Gerbsman Partners – Maximizing Enterprise Value

Gerbsman Partners focuses on maximizing enterprise value for stakeholders and shareholders in under-performing, under-capitalized and under-valued companies and their Intellectual Property. Since 2001, Gerbsman Partners has been involved in maximizing value for 68 technology, life science and medical device companies and their Intellectual Property and has restructured/terminated over $795 million of real estate executory contracts and equipment lease/sub-debt obligations. Since inception in 1980, Gerbsman Partners has been involved in over $2.3 billion of financings, restructurings and M&A Transactions.

Gerbsman Partners has offices and strategic alliances in San Francisco, New York, Alexandria, VA/DC, Orange County, Boston, Europe and Israel.

Technology – IP


Emergent Game Technologies Inc – Licensed and supported 3D/game software.

Capital Thinking – Enterprise Risk Management (ERM) platform, a credit and risk management software solution for the financial services industry.

Cesura – Web and on demand business software.

Conformia Software Inc. – Software solutions for highly regulated process industries – Life Science.

deNovis – Enterprise software for government health and health insurance industry.

Gentiae Inc. – Real-time fully automated processing of cardiac safety input and core lab operations. The system offers a comprehensive, real time web portal for sponsor and site access.

Banquet – Interactive sports entertainment.

ID Engines Inc. – Role-based access control (RBAC) across enterprise networks.

InDplay Inc. – Online, B2B video content distribution (monetization) platform, deployed on enterprise-quality software components, served in the SaaS (software-as-a-service) model.

Metreo Inc. – Pricing software for manufacturers and distributors.

Neohapsis Inc. – IT management services platform.

Zone4Play – Interactive game technology.

Roots Web, Inc. – Geneology software.

StreamSearch, Inc. – Multimedia aggregator that has created a unique solution for indexing, locating, promoting, and distributing rich media on the Internet.

Technion University – Technology patents

Teranode Corporation – Business intelligence and lab automation solutions for the Life Science market.

USA Democracy, Inc. – Direct, verifiable, credible communications between elected representatives and their constituents through its non-partisan legislative-based website.

Utility.com, Inc. – Multi-utility eCommerce/eCRM technology, Web-based energy management technology.

Vcommerce, Inc. – Developed, deployed, and operated fully integrated, end-to-end supply chain execution systems and direct fulfillment infrastructure.

Intelectron, Inc. – Commercial lighting technology.

Skunk Technologies – Java based software


Dialpad, Inc. – Web-to-phone service.

Simpler Networks, Inc./Hercules Technology Growth Capital – Telco software – a matrix switch platform that sits within the Telco’s central office (CO) or street cabinets. Developed to allow for universal access to any service, the system’s protocol-transparent design allows it to be placed in front of any existing or future access gear that delivers services over the local loop


Cornice Inc. – Storage and flash controllers.

PhaseMetrics Inc. – Storage systems manufacturer.

Plasmon, Inc. – Data archival storage technology
Networking/Optical Networking

CipherMax, Inc. – Storage networking.

Private Networks, Inc. – Broadband multicast delivery system utilizing digital satellite technology. The technology has universal applicability to many industries for distribution of high-band data and video.

Teak Technologies Inc. – Internet switching and gateway networking products.

Zeus Communications, Inc. – Hardware architecture of 10 Gbps IPSec VPN and firewall in a single board.

Optivia, Inc & Hercules Technology Growth Capital – Optical transport systems.

Princeton Lightwave, Inc. – Optical networking technology

T-Networks, Inc. – Optical networking components.

Transparent Networks, Inc. – Wavelength Selective Switch, a high performance large scale Photonic cross-connect functional prototype, detailed design and simulation validation of a Light Path Exchange with integrated DWDM, an HDTV display mirror array high level design and simulation, proprietary and unique MEMS design and validation engineering tools.

Network Photonics, Inc.


eBiz mobility – Mobile business payment

YPS Software – ASP and software vendor for the PC and mobile phone industries, Mobile Entertainment Centre.

Teleflip – Mobile messaging.


Active Response Group Inc. – On line marketing company.

Akimbo Inc. – Monitizing on line media.

Competition Accessories, Inc. – Online direct marketing.

Gallery Player Inc. – Provider and distributor of high-value, rights managed high definition imagery for high definition televisions.

MeMedia Inc. – Online advertising solutions provider and ad network that delivers contextually and behaviorally targeted advertisements across a multi-modal network of websites and desktop applications.

MyWire Inc. – Paid content and advertising.

NebuAd, Inc. – Online advertising model. Next-generation digital media technology and solutions.

Holographic & Biometric Technology

Aprilis, Inc./Dow Corning – Holographic Data Storage Drives and Biometric Secuirty Systems

NeoScale Inc. – Storage encryption and key management solution for organizations securing information stored on tape and disk media.

Oviso Inc. – Semi conductor manufacturing equipment.

SciCortex, Inc. – Manufacturer of high performance computers.

Medical Device

Cardiovascular, Vascular, Endoscopy

Cardiomind inc. – Stent delivery platform.

OmniSonics Medical Technologies Inc. – Vascular disease IP.

InnerPulse Inc. – Cardiac rhythm management (CRM) medical device company.

Myocor Inc. – Developing innovative cardiac reshaping devices to treat functional mitral regurgitation (FMR) and left ventricular (LV) dysfunction, both of which are significant in the progression of congestive heart failure (CHF).

NDO Surgical, Inc. – Flexible endoscopy technologies that enable surgical procedures through the bodys natural openings.

Viacor Inc. – Cardiac implant device for the treatment of functional mitral regurgitation.

XTENT Inc. – Customizable drug eluting stent systems for the treatment of cardiovascular disease.


Applied Spine Technologies Inc – Screw based dynamic stabilization system validated with Class 1 clinical data

Emphasis Medical Inc. – Endobronchial valves for the treatment of heterogeneous emphysema.

NovaLign Orthopedic Inc. – Long bone fracture, intramedullary nail technology.

Optobionics – Retinal degeneration.

Refractec, Inc – Radiofrequency (RF) device called ViewPoint CK System, used to perform NearVisionSM CK (Conductive Keratoplasty) treatment


Satiety Inc. – Obesity product

Life Science

Pluristem, Inc. – Stem cell research – Israel company

Barnev Inc. – Monitoring Systems, Labor Israel company.

Pegasus Biologics Inc. – Developed and is commercializing a revolutionary bioscaffold comprised of highly organized collagen, sourced from equine pericardium that encourages the healing process by addressing the demands of a challenging biological environment.

Radiant Medical, Inc. – Endovascular therapeutic cooling.

Valentis, Inc. – Biotechnology company with small molecule, antibody, protein, gene and manufacturing assets.

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Gerbsman Partners (www.gerbsmanpartners.com) has been retained by Viacor, Inc. (www.viacorinc.com) to solicit interest for the acquisition of all, or substantially all, the assets of Viacor Inc. (“Viacor”).

Headquartered in Wilmington, MA, Viacor, Inc. is a medical device company focused on developing and commercializing a novel cardiac implant device for the treatment of functional mitral regurgitation.


The information in this memorandum does not constitute the whole or any part of an offer or a contract.

The information contained in this memorandum relating to VIACOR’s Assets has been supplied by VIACOR. It has not been independently investigated or verified by Gerbsman Partners or its agents.

Potential purchasers should not rely on any information contained in this memorandum or provided by VIACOR, or Gerbsman Partners (or their respective staff, agents, and attorneys) in connection herewith, whether transmitted orally or in writing as a statement, opinion, or representation of fact. Interested parties should satisfy themselves through independent investigations as they or their legal and financial advisors see fit.

VIACOR, Gerbsman Partners, and their respective staff, agents, and attorneys, (i) disclaim any and all implied warranties concerning the truth, accuracy, and completeness of any information provided in connection herewith and (ii) do not accept liability for the information, including that contained in this memorandum, whether that liability arises by reasons of VIACOR’ or Gerbsman Partners’ negligence or otherwise.

Any sale of the VIACOR Assets will be made on an “as-is,” “where-is,” and “with all faults” basis, without any warranties, representations, or guarantees, either express or implied, of any kind, nature, or type whatsoever from, or on behalf of VIACOR or Gerbsman Partners. Without limiting the generality of the foregoing, VIACOR and Gerbsman Partners and their respective staff, agents, and attorneys,  hereby expressly disclaim any and all implied warranties concerning the condition of the VIACOR Assets and any portions thereof, including, but not limited to, environmental conditions, compliance with any government regulations or requirements, the implied warranties of habitability, merchantability, or fitness for a particular purpose.

This memorandum contains confidential information and is not to be supplied to any person without Gerbsman Partners’ prior consent. Thismemorandum and the information contained herein are subject to the non-disclosure agreement attached hereto as Exhibit A.

Viacor believes its assets are attractive for a number of reasons:
·     Viacor’s PTMA® implant system:

o   The first mitral regurgitation repair implant ever demonstrated to allow percutaneuous repair, with a sedation-only procedure, with the option of device adjustment or removal both during the initial implant and at later timepoints.

o   The system has been developed over a ten year period in cooperation with leading structural heart failure specialists worldwide, the key customer segment for an attractive and rapidly growing new specialty

o   The implant system is supported by extensive clinical and technical know how broadly applicable to mitral repair including structural imaging, patient screening and workup, imaging analysis, procedure control and follow-up

o   The system presents clear opportunities for design and procedure combination with intellectual property and approaches from other mitral repair and heart failure therapies

o   The PTMA system is supported by an extensive history of regulatory correspondence reflecting contemporary expectations of FDA and worldwide authorities for mitral repair

·     Viacor’s PTMA® implant system was studied under an FDA-IDE on an initial, temporary basis and in 2010, after four years of extensive, iterative review, the design dossier and bench test regimen was approved for implantation studies.

·     Viacor’s formal intellectual property includes 13 issued US patents, 2 additional pending US patent applications, and numerous parallelinternational patents and patent applications.

·     Percutaneous structural heart repair is a key focus of the major participants in the worldwide interventional cardiology market, representing one of the most important arenas for market expansion and demonstration of technical leadership.

o   The clinical success of transcatheter aortic valve implantation “TAVI” has established an existing 400 M$+ (30%+ CAGR) ex-US market without reimbursement or US approval

o   The mitral therapy market is expected to ultimately be even larger than the aortic market

o   No percutaneous therapy or clinical approach has yet established meaningful acceptance in the mitral space, with a wide range of possible approaches under early examination; Viacor’s extensive early experience could provide an important addition to various possible next-stage development programs.

·     Possible combination therapies: Viacor’s removable, adjustable coronary sinus technology provides the logical basis for combination with other therapies such as leaflet clip, chordal shortening, and biventricular pacing.  Biventricular pacing presents a particularly attractive opportunity as the PTMA system is placed in the same target anatomy, the coronary sinus, using nearly equivalent techniques for venous access and device deliver.  The device is also generally indicated for same subset of heart failure patients.

Viacor Company Profile

Viacor was founded in 2000 by three leading mitral surgeons, John Liddicoat, Marc Gillinov and William Cohn.  Viacor completed its first venture round in 2002, eventually raising a total of $40 million from investors New Enterprise Associates, Canaan Partners, Medtronic and a network of experienced private investors.

Viacor is a developer of an innovative percutaneous mitral repair implant, PTMA®.  Over a ten year period, the system was perfected through an extensive animal, bench and clinical program, including over 70 human cases in the US, Canada, Germany, Belgium, Netherlands and the Chezk Republic.  The PTMA system has demonstrated favorable late outcomes through over two years post-implantation.

The Viacor system has been repeatedly presented by leading clinicians and major conferences and the technology has been the subject of multiple refereed journal presentations in US and International journals.
Impact of Technology on the Market

VIACOR believes that its PTMA technology and clinical experience offers unique advantages to multiple possible ongoing programs in structural heart failure:

·     The device and intellectual property has clear potential for combination with other emerging treatment methods including leaflet and chordal repairs, and biventricular lead placement.
·     The Viacor approach and technology offers the potential for a single-operator, sedation percutaneous therapy for mitral regurgitation in select patients.
·     The PTMA device is a logical addition to the extended technology and product armamentarium of a number of the major device manufacturers and distributors.

Viacor’s Assets

Viacor has developed a portfolio of assets critical to the development and manufacture of a structural heart failure implant. These assets fall into a variety of categories, including:
·     Patents, Patent Applications and Trademarks
·     FDA filings and extensive, proprietary interactive correspondence
·     Custom built equipment for manufacturing and testing of permanent valvular repair implants
·     Technology and intellectual propertyrelated to custom 600 M cycle durability bench test in simulated mitral valve position
·     Technology and intellectual propertyrelated to the collection and systematic analysis and integrated procedure deployment of of MSCT, 2D and 3D echocardiography and procedure fluoroscopy.
·     Patient Data from 3 clinical trials involving 82 patients
The assets of Viacor will be sold in whole or in part (collectively, the “Viacor Assets”). The sale of these assets is being conducted with the cooperation of Viacor. Viacor and its employees will be available to assist purchasers with due diligence and a prompt, efficient transition to new ownership. Notwithstanding the foregoing, Viacor should not be contacted directly without the prior consent of Gerbsman Partners.

The Sale of the Viacor Assets is being conducted pursuant to a Plan of Complete Liquidation and Dissolution of Viacor, Inc. (the “Plan of Dissolution”) which was approved by Viacor’s board of directors and majority shareholders on December 13, 2010.

Key Personnel

·       Jonathan M. Rourke — President & CEO  Former VP of R&D at Transmedics and EndoTex, over 25years of medical industry management experience, 11 US and various foreign patents
·       Katherine Stohlman  — Vice President, Regulatory and Clinical Affairs  Over 25 years previously held various executive positions in Engineering, Clinical and IT for Hewlett-Packard Medical Products
·       William T. Hayes — CFO  Formerly CFO Transmedics, financial executive, Genuity, Somerville Lumber

VIACOR, Inc. Board of Directors

·       Coy Blevins, Chairman of the Board

·       Jonathan M. Rourke, CEO

·       Ryan D. Drant, General Partner, New Enterprise Associates

·       Gregory Lambrecht, CEO, Intrinsic Therapeutics

·       Steven Bloch, Canaan Partners

·       Richard T. Spencer, Private Investor

·       Sean Salmon, Vice President and General Manager, Medtronic Coronary and Periphral Interventions

The Bidding Process for Interested Buyers

Interested and qualified parties will be expected to sign a nondisclosure agreement (attached hereto as Exhibit A) to have access to key members of the management and intellectual capital teams and the due diligence “war room” documentation (the “Due Diligence Access”). Each interested party, as a consequence of the Due Diligence Access granted to it, shall be deemed to acknowledge and represent (i) that it is bound by the bidding procedures described herein; (ii) that it has an opportunity to inspect and examine the VIACOR Assets and to review all pertinent documents and information with respect thereto; (iii) that it is not relying upon any written or oral statements, representations, or warranties of VIACOR, Inc., Gerbsman Partners, or their respective staff, agents, or attorneys; and (iv) all such documents and reports have been provided solely for the convenience of the interested party, and neither VIACOR nor Gerbsman Partners (or their respective, staff, agents, or attorneys) makes any representations as to the accuracy or completeness of the same.

Following an initial round of due diligence, interested parties will be invited to participate with a sealed bid, for the acquisition of the VIACOR Assets. Sealed bids must be submitted so that the bid is actually received by Gerbsman Partners no later than Friday, January 21, 2010 at 3:00 p.m. Eastern Standard Time (the “Bid Deadline”) at VIACOR’ office, located at 260-B Fordham Road, Wilmington, MA, 01887.  Please also email steve@gerbsmanpartners.com with any bid.
Bids should identify those assets being tendered for in a specific and identifiable way. The attached VIACOR fixed asset list may not be complete and Bidders interested in the VIACOR Assets must submit a separate bid for such assets. Be specific as to the assets desired.

Any person or other entity making a bid must be prepared to provide independent confirmation that they possess the financial resources to complete the purchase where applicable. All bids must be accompanied by a refundable deposit check in the amount of $250,000 (payable to VIACOR, Inc.). The winning bidder will be notified within 3 business days after the Bid Deadline. Unsuccessful bidders will have their deposit returned to them.

VIACOR reserves the right to, in its sole discretion, accept or reject any bid, or withdraw any or all assets from sale.  Interested parties should understand that it is expected that the highest bid submitted will be chosen as the winningbidder and bidders may not have the opportunity to improve their bids aftersubmission.
VIACOR will require the successful bidder to close within 7 business days.  Any or all of the assets of VIACOR will be sold on an “as is, where is” basis, with no representation or warranties whatsoever.  Please note that VIACOR is selling its assets in cooperation with its senior secured creditor.

All sales, transfer, and recording taxes, stamp taxes, or similar taxes, if any, relating to the sale of the VIACOR Assets shall be the sole responsibility of the successful bidder and shall be paid to VIACOR at the closing of each transaction.
For additional information, please see below and/or contact:

Steven R. Gerbsman
(415) 456-0628

Kenneth Hardesty
(408) 591-7528

Dennis Sholl
(415) 457-9596

Jim McHugh

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