Acutus Medical, fresh off a successful first-in-human trial of its heart-mapping technology, raised $21.6 million of a hoped-for $30.6 million Series B round, founder, president & CEO Randy Werneth told MassDevice.com today.
San Diego-based Acutus developed a 3D cardiac electrical mapping system to identify areas of the heart muscle requiring ablation to treat atrial fibrillation. The system can deliver CT- or MRI-quality images of the heart’s electrical activity, the company claims.
Last year Acutus raised $5.4 million to fund the initial trial, Werneth told us.
Venture capital shop OrbiMed is leading the Series B round, he told us, joined by existing backers Index Ventures and Advent Ventures. The new cash will is earmarked for "continued product development and clinical research," he said, adding that it’s unclear when the round will close.
"We have other financing options we’re looking at," Werneth said.
Acutus has been lucky so far on the fundraising trail, Werneth said, noting that the company is aiming at a growth market – cardiac arrhythmias – and has a proven technology now that the trial is complete.
"I don’t want to sound arrogant, but you put those 2 things together and I had a pretty easy time. Fortunately OrbiMed sees that potential," he said.
