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

CLEVELAND and SANTA CLARA, Calif., Nov. 3, 2026 /PRNewswire/ — 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 in its T45 Fund-II through private funds advised by The O.H.I.O. Fund. The O.H.I.O. Fund, a private investment firm, is focused on generating strong returns while creating economic growth in Ohio. While terms were not disclosed, the investment in T45 Fund-II supports the continued development of T45 Labs’ portfolio of minimally invasive cardiovascular device companies, including those based in Cleveland, Ohio.

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

“Ohio has tremendous healthcare and research assets, including institutions like the Cleveland Clinic that are producing exciting medical innovations to meet patient needs,” 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.”

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 a next-generation, drug-coated balloon (DCB) technology with a dual-drug (paclitaxel and sirolimus) nanoparticle that was invented in and licensed from the Cleveland Clinic. The company manufactures its DCB platform in Ohio and recently closed over $31 million in Series B funding.

Earlier this year, T45 deepened its ties to the Cleveland Clinic 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 for functional mitral regurgitation in an early clinical trial. The incubator’s portfolio also includes VahatiCor, a coronary sinus reducer therapy company, and NuevoSono, an intravascular ultrasound company.

“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 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.”

About T45 Labs

T45 Labs is a Silicon Valley-based medtech incubator that builds and funds acquisition-ready cardiovascular companies. Through its funds, the firm advances minimally invasive technologies through key clinical and regulatory milestones, reducing development risk at each stage. With a presence in Cleveland and partnerships with Cleveland Clinic-affiliated innovations, T45 connects Ohio’s healthcare and research strengths with its cardiovascular company-building model.

For more information about the firm and its portfolio, please visit: t45labs.com.

About The O.H.I.O. Fund

TOF Manager, LLC dba The O.H.I.O. Fund is a private investment firm committed to investing in and partnering with innovative entrepreneurs, business leaders, and co-investors who, like them, call Ohio home. With a unique investment thesis focused on leveraging Ohio’s momentum, The O.H.I.O. Fund supports growth in advanced manufacturing, biotech, real estate, infrastructure, and other sectors where Ohio leads. The team brings deep experience and a robust statewide network to connect leaders and unlock the state’s most promising opportunities.

Important Information and Disclosures

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase any securities in any private investment fund (the “Fund”) managed by TOF Manager, LLC (“The O.H.I.O. Fund” or the “Adviser”). Any such offering will be made solely to qualified investors through a confidential private placement memorandum and other offering documents, which should be reviewed carefully before any investment decision.

The O.H.I.O. Fund is an investment adviser to one or more private investment funds. References to investments, capital deployed, or portfolio companies reflect investments made by private funds advised by The O.H.I.O. Fund, not by the adviser itself. Interests in the private funds advised by The O.H.I.O. Fund are offered only to eligible investors and are subject to investor qualification requirements.

Statements about expected growth, anticipated revenue, production capacity, expansion plans, or future business prospects are forward-looking statements based on current expectations, assumptions, and market conditions. These statements are inherently uncertain and subject to risks and uncertainties, and actual results may differ materially from those expressed or implied. There can be no assurance that projected outcomes, expectations, or plans will be achieved.

Past investments or portfolio company developments discussed herein are not indicative of future results. Investment performance varies, and no assurance can be given that any investment will achieve its objectives or avoid losses.

Comments or quotes from portfolio company representatives and references to portfolio companies, customers, or counterparties are provided solely for illustrative purposes and do not constitute an endorsement, guarantee, or recommendation. No representation is made that any investment strategy has been or will be successful.

This communication is not intended to be, and should not be construed as, investment, accounting, legal, or tax advice. Prospective investors should consult their own advisers before making any investment decision.

This press release is intended only for persons located in jurisdictions where distribution is permitted under applicable law. It may not be reproduced, distributed, or used for any other purpose without the Adviser’s express written consent.

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SOURCE T45 Labs