San Diego medical device startup Acutus Medical closed its Series B funding round with $28 million raised from a handful of investors in support of the company’s minimally invasive heart mapping technology.
Acutus plans to use the funds to continue product development, clinical trials, regulatory approval and "early commercialization" for its 3D Cardiac Chamber imaging and Dipole Density Mapping system, which aims to more efficiently and accurately examine the root of cardiac rhythm disorders.
The $28 million raise was led by new investor OrbiMed Advisors as well as by GE Ventures, according to a press release. Existing investors Index Ventures and Advent Life Sciences also participated. The funding helped close out the hoped-for $31 million Series B round, which was supplemented by an A-series bridge loan, a company spokesperson told MassDevice.com.
"With the support of OrbiMed and GE Ventures alongside Index Ventures and Advent Ventures, we’re able to expand product development of the first clinical evidence-based cardiac mapping / imaging solution that identifies the issues causing irregular heart rhythms," Acutus CEO Randy Werneth said in prepared remarks. "Along with their industry expertise and global network, GE Ventures shares our mutual goal of providing high-quality, more affordable and minimally invasive patient solutions."
GE Ventures managing director Noah Lewis concurred, saying that Acutus’ technology could help drive down costs and "positively disrupt the market" for treatment of complex arrhythmias.