Angel Medical Systems said it’s closed a funding round worth $28 million for its AngelMed Guardian implant, designed to detect the early heart problems that can lead to heart attacks and alert patients to seek medical care.
The round included existing backers and a new contribution from SOAM Angel Partners, which added principal Dr. Victor Whitman to Angel Medical’s board, according to a press release.
The Guardian implantable device monitors patients for signs of ischemia, or lack of blood flow, in the heart and alerts the patient to seek medical care. The company said it plans to use the proceeds to finish up a Phase II pivotal trial for the device and to develop next-generation ischemia monitoring devices. Angel Medical will also spend some cash on extending its commercial reach in Europe and Brazil, where the AngelGuard system is already market-approved, according to the release.
"We’ve made significant progress in our pivotal trial of the Guardian system, with more than 660 patients implanted with the device in the United States," CEO Dr. David Fischell said in prepared remarks. "This additional capital will enable us to continue study enrollment, and providing efficacy endpoints are met, file our premarket approval [application] in the coming year."
Last week Angel Medical revealed a $3.8 million tranche of the funding round.
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