Cardiac device developer MedLumics said today it raised $37 million (EU €34.4 million) in a Series B round of funding to support product and clinical development of its AblaView catheter designed to treat atrial fibrillation and other arrhythmias.
The round was led by Edmond de Rothschild Investment Partners and joined by newly invested Seroba Life Sciences, Innogest Capital as well as existing investors Ysios Capital Partners and Caixa Capital Risc.
As part of the funding round, EdIP partner Olivier Litzka, Seroba’s James Greene and Innogest’s Claudio Rumazza are joining MedLumic’s board of directors.
“We believe MedLumics’ founders Eduardo Margallo and Jose Rubio have done a world class job in adapting and miniaturizing OCR technology such that it became applicable to an AF catheter. Based on our experience helping develop Endosense’s Tacticath to become the current gold standard in point-by-point ablation, we believe that MedLumics’ AblaView has all the necessary technological features to ultimately transform AF treatment by making the procedure significantly safer, more predictable and more successful,” Litzka said in a prepared release.
The AblaView catheter is designed to provide operating physicians with direct information on lesion formation in the tissue surrounding the catheter’s radiofrequency electrode during ablation procedures, Madrid, Spain-based MedLumics said.
The company is currently completing development of a catheter with a 360-degree real-time view of the tissue around the cath tip.
“While we have been actively advancing our lesion assessment technology for the last two years, we are very pleased to see that the significant Series B investment will give MedLumics the means to complete our best-in-class product, conduct a series of international clinical trials to prove its safety and efficacy, and market it to specialist centers. As the company advances and grows into new areas, we will now expand and develop the team internationally,” CEO Eduardo Margallo said in a press release.