Bay State startup DC Device announced the successful close of a $34 million Series D financing round, hoping to use the funds to advance clinical evaluation of its InterAtrial Shunt Device.
The company aims to market the world’s 1st minimally invasive device for treating diastolic heart failure, a market worth a potential $5 billion globally, according to a DC Device press release.
The latest funding came from a new undisclosed investors as well as previous backers Third Rock Ventures, General Catalyst Partners, and Lumira Capital, DC Device reported.
"Patients who suffer from diastolic heart failure have no effective treatment options and have a poor survival rate," president & CEO George Fazio said in prepared remarks. "With the support of our investors and the guidance of our clinical advisors, we are now one step closer to bringing a potentially transformative new therapy to heart failure patients around the world."
This marks the company’s 2nd reported round of funding, following $10.7 million raised through sales of equity. DC Devices has already completed 1st-in-human studies and is amid enrollment for a European pilot trial, Fazio said at the time.