Direct Flow Medical Raises $40 Million

Direct Flow Medical Inc., a Santa Rosa, Calif.-based developer of a minimally-invasive implant to treat heart valve disease, has secured $40 million of a $42.5 million third round of VC funding, according to a regulatory filing. Past backers have included Johnson & Johnson Development Corp., Foundation Medical Partners, VantagePoint Venture Partners, ePlanet Ventures, EDF Ventures, New Leaf Venture Partners and Spray Venture Partners.