At Picard Angst and through the PA MedTech VC Fund, we benefit from a privileged and trusted relationship with Shifamed—a connection that provides us with preferred access and investment opportunities to some of the most promising companies in medical technology today.

Shifamed: A Proven MedTech Innovation Hub
Shifamed is a medical technology innovation hub located in the heart of Silicon Valley. It is focused on building next-generation medical products that improve clinical outcomes and enhance patient care. What sets Shifamed apart is its exceptional track record: six companies launched, six successful exits. Each of these exits occurred in the cardiovascular space, with acquisitions by major strategic players such as Boston Scientific, Medtronic, and others.

Cardiovascular: A Growing, High-Opportunity Market
The cardiovascular space is one of the most dynamic and fastest-growing areas in healthcare. It is driven by a growing and aging global population and an increasingly prevalent trend: the world is growing “bigger,” with rising rates of obesity and related conditions fueling the need for innovative cardiovascular solutions. These conditions are already one of the most common causes of death worldwide, and the need for innovation in this field continues to accelerate.

Large strategics dominate distribution in this space, but to fuel growth, they rely on acquisitions to expand and diversify their product portfolios. Shifamed focuses precisely on building the kind of companies these strategics want to acquire: innovative, de-risked, and positioned to deliver clinical and commercial value.

A Disciplined, De-risked Approach to Company Building
Shifamed’s strategy rests on three key pillars, each aimed at reducing risk and increasing the likelihood of a successful exit:

1. We don’t want to be pioneers.
   Pioneering technologies may offer high returns, but they also come with high uncertainty. Shifamed deliberately focuses on companies operating in established markets. The goal is not to be first, but to be better—to supersede the incumbent solutions with next-generation devices. This “fast follower” approach allows Shifamed  to innovate meaningfully while reducing market risk.
   
   
2. A focus on cardiovascular.
   Most of Shifamed’s companies are in the cardiovascular space, which is fast-growing and acquisition-driven. Currently, five portfolio companies are active in this space. If a company can prove, for example through 5 to 20 first-in-human cases, that its device is safe and effective, strategic acquirers are likely to show strong interest in this space. In parallel, Shifamed is also active in ophthalmology, with two companies currently in this sector. While the ophthalmology market may be less aggressive than cardiovascular, it is similarly structured—and in fact significantly larger in overall size.
   
   
3. Highly effective due diligence conducted before external investors are invited
   Before any project is formally launched or external capital is invited to invest, Shifamed undertakes a rigorous due diligence process at its own expense. This includes:
   • Market analysis
   • Technical feasibility assessments and early prototyping
   • Feedback from their network of physicians and clinical experts
   • Preliminary dialogue with strategic acquirers
   • A comprehensive review of the competitive landscape and intellectual property environment

Only when a concept passes all these checkpoints, a company is formally launched and external investors are invited to participate.

This structured and thorough approach has been key to Shifamed’s remarkable record: six companies launched with external capital, and six successful exits.

Two examples from Shifamed’s current portfolio illustrate the strength of this model: Supira Medical and Akura Medical

Supira Medical is developing an innovative percutaneous ventricular assist device (pVAD) aimed at supporting patients undergoing high-risk coronary interventions and treating cardiogenic shock. The company’s technology is designed to provide support with a smaller profile device (lower diameter), improved hemodynamics, and expanded applicability in less invasive settings. Supira has just successfully secured $120 million in an oversubscribed Series E financing led by Novo Holdings and the Qatar Investment Authority (QIA), with participation from two undisclosed strategic investors and existing backers a couple of weeks ago. This marks a pivotal milestone for Supira as it continues to move closer to FDA approval. The scale and quality of this round reflect a strong endorsement of both the technology and the team.

Akura Medical is focused on improving outcomes in the treatment of venous thromboembolism (VTE), including deep vein thrombosis and pulmonary embolism. Its next-generation thrombectomy platform is engineered to optimize clot removal while minimizing blood loss and vessel trauma — offering a promising solution in a field with significant clinical demand and few truly effective options.

These companies represent the type of focused, high-quality innovation that defines the Shifamed model—built on real clinical insight, disciplined execution, and strategic relevance.

Partnership with Picard Angst
At Picard Angst, we’ve built the PA MedTech VC Fund around this relationship. Fund I launched in November 2021 and closed in November 2022 with $40.6 million—fully deployed into Shifamed companies. Fund II launched with a $13 million first close in June 2024.

Our goal is simple: support innovative medtech companies that improve patient care—and deliver compelling returns for our investors.

 

Peter Pilavachi is General Partner and Portfolio Manager of PA MedTech VC Fund at Picard Angst.