Updated to include new information from Apama Medical
Novel catheter ablation tech developer Apama Medical said it raised a total of $19.7 million, with $13.2 million coming from a closed Series C round and $6.5 million from a debt facility with Silicon Valley Bank.
Apama Medical is developing novel ablation catheter technology to combine “the best elements of existing ablation technology while incorporating additional unique features to address gaps in current technology,” according to it’s website.
The Series C round was joined by Ascension Ventures, Medvance Incubator Partners, ONSET Ventures, Incept and various angel investors, the company said.
“We are pleased to receive such strong support from our existing investors, which we attribute to the tremendous progress of the company, including the initiation of our AF-Ficient FIH clinical study earlier this year,” CEO Amr Salahieh said in a press release.
A total of 63 investors took part in the round, according to an SEC filing; the company hopes to raise another $313,496 before closing it.
Apama Medical said its new device aims to reduce procedure time due to “multipoint, single-shot design” and optimized placement via real-time visualization. Apama said the device design will include the ability to create customizable lesion patterns to allow for the treatment of various AF types.
The Campbell, Calif.-based company said it recently released results from the AF-Ficient FIH clinical study of its device. Data from 6 patients treated with its Apama RF balloon catheter device indicated that the device met safety and performance outcomes, as measured by successful PVI isolation and lack of serious adverse events at 7 and 30 days.
“The Apama RF Balloon Catheter System is an innovative solution that addresses the gaps in existing catheter ablation technologies. The multipoint RF system enables single shot, customizable ablation geometries for improved efficiency and versatility. In addition, built-in cameras enable real-time visualization that allows for enhanced navigation and feedback on electrode contact,” study presenter Dr. Amin Al-Ahmad of Austin’s Texas Cardiac Arrhythmia Institute said in a prepared statement.
Apama Medical reported raising $9 million in July. The company’s last Series B financing round brought in $17.5 million in January last year, according to a press release, and was led by Ascension Ventures.
Steve MacMillan took over as CEO of Hologic in 2013, drawing on his experience at medtech titans like Stryker and Johnson & Johnson. Since then, Hologic has grown into a $3 billion business.
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