Cleveland and Santa Clara, California, November 3, 2026 / PRNewswire / -- T45 Labs Today, it was announced that its T45 Fund - II has received investment from a private equity fund managed by The O . H.I.O . Fund. T45 Labs is an organization that builds and funds viable cardiovascular companies by mitigating the risks of breakthrough technologies and facilitating their progress through clinical and regulatory milestones. The O . H.I.O . Fund is a private investment firm focused on achieving strong returns while fostering economic growth in Ohio. The terms of the transaction were not disclosed. This investment will support the continued development of T45 Labs's portfolio of minimally invasive cardiovascular devices, which includes companies located in Cleveland, Ohio.
The investment of The O . H.I.O . Fund reflects their strategy: to invest in industries that already have advantages in Ohio, including healthcare and medical technology, while also supporting the state's goal of achieving long-term economic growth.
"Ohio boasts strong healthcare and research resources, including institutions like the Cleveland Clinic, which are producing exciting medical innovations to meet the needs of patients," said Ray Leach, President of H.I.O. "Our expertise in operational models and professional capabilities help to transform these innovations into viable companies and drive promising technologies to market. This is a great example of how Ohio's research strengths can create new investment and growth opportunities."
T45 Labs was founded by the founder and managing partners Marwan Berrada to Sounni. He previously served as the Senior Product Development Director at the Cleveland Clinic's Global Cardiovascular Innovation Center. The first portfolio company of T45, Advanced NanoTherapies ( ANT ), is advancing next-generation drug-coated balloon ( DCB ) technology, which utilizes dual-drug (paclitaxel and sirolimus) nanoparticles. This technology was invented at the Cleveland Clinic and licensed by it. The company manufactures its DCB platform in Ohio and recently completed a Series B financing of over $31 million.
Earlier this year, T45 further deepened its ties with the Cleveland Clinic through collaboration with Mitria Medical. Mitria Medical is a structural heart company founded by that institution. This partnership has expanded T45's portfolio to include Subvalvular Spacer, a research-oriented catheter-based device for functional mitral regurgitation that is currently in the early stages of clinical trials. The incubator's portfolio also includes Vahat, a company focused on coronary sinus reduction therapy, as well as NuevoSono, a company specializing in intravascular ultrasound.
"At T45 Labs, we focus on reducing risks by improving early concepts and guiding these proven cardiovascular technologies through clinical and regulatory milestones, ultimately leading to market entry," stated Berrada-Sounni. "We created T45 Fund - II to accelerate this process, and the investments from The O H.I.O Fund have helped bring these technologies closer to the patients and doctors who need them."
About T45 Labs
T45 Labs is a medical technology incubator located in Silicon Valley, focused on creating and funding cardiovascular companies that can be acquired. Through its funds, the company facilitates the advancement of minimally invasive technologies across key clinical and regulatory milestones, while reducing development risks at each stage. T45 has operations in Cleveland and collaborates with innovative projects at Cleveland clinics to connect Ohio's healthcare and research strengths with its model for building cardiovascular companies.
For more information about the company and its portfolio, please visit: t45labs.com.
Regarding The O, H.I.O, and Fund
TOF Manager, LLC (operating under the name of The O . H.I.O . Fund) is a private investment firm dedicated to investing and collaborating with innovative entrepreneurs, business leaders, and co-investors who, like us, consider Ohio their home. The unique investment philosophy of The O . H.I.O . Fund focuses on leveraging Ohio's momentum for growth in advanced manufacturing, biotechnology, real estate, infrastructure, and other leading sectors of the state. Our team possesses extensive experience and a broad network across the state, enabling us to connect various leaders and unlock the most promising opportunities in Ohio.
Important Information and Disclosures
This press release is for informational purposes only and does not constitute an offer to sell any securities by TOF Manager, LLC (“The O. H.I.O. Fund” or “advisors”), nor does it constitute an invitation to purchase any securities. Any such offering will be made only to qualified investors through confidential private placement memorandums and other offering documents, which should be carefully reviewed before making any investment decisions.
The O. H.I.O. Fund serves as investment advisors for one or more private equity funds. The investments, deployed capital, or portfolio companies mentioned in the text reflect the investments made by the private equity funds managed by The O. H.I.O. Fund advisors, and not by the advisors themselves. The equity of the private equity funds managed by The O. H.I.O. Fund advisors is offered only to qualified investors and is subject to investor qualification requirements.
Statements regarding expected growth, projected revenue, production capacity, expansion plans, or future business prospects are all forward-looking statements based on current expectations, assumptions, and market conditions. These statements inherently involve uncertainties and are subject to risks and factors of uncertainty. Actual results may differ significantly from those expressed or implied. There is no guarantee that the predicted results, expectations, or plans will necessarily be realized.
The past investments discussed in the text or the development of the invested companies do not represent future results. Investment performance can vary, and there is no guarantee that any investment will achieve its objectives or avoid losses.
Comments or quotes from representatives of portfolio companies, as well as mentions of portfolio companies, clients, or counterparties, are for illustrative purposes only and do not constitute an endorsement, guarantee, or recommendation. No statements in this text imply that any investment strategy has been or will be successful.
This communication is not intended to constitute, nor should it be construed as, investment, accounting, legal, or tax advice. Potential investors should consult their own advisors before making any investment decisions.
This press release is intended for distribution only to individuals within the judicial jurisdictions where such distribution is legally permitted. Without the explicit written consent of a consultant, it shall not be reproduced, distributed, or used for any other purposes.
