AtaCor Medical said today that it raised nearly $9 million in a Series A round for the sub-sternal pacemaker it’s developing.
San Clemente, Calif.-based AtaCor said Broadview Ventures and aMoon Ventures co-led the $8.8 million round, joined by an unnamed “corporate partner.” The proceeds are earmarked for further development of the pacer system. The device is designed to avoid the implantation of hardware inside or on the heart to provide bradycardia therapy, AtaCor said.
Founded in 2014, the company is led by medtech veteran Rick Sanghera as co-founder & CEO. Sangera’s resume includes stints at Guidant, Boston Scientific (NYSE:BSX) and Cameron Health, where he spent 10 years as director of research for the development of that company’s S-ICD subcutaneous-lead pacer. Boston Scientific acquired Cameron Health in 2012 with a deal worth up to $1.35 billion.
“We welcome our new venture partners and extend our appreciation to our earlier investors in supporting AtaCor’s goal to free patients’ hearts from unnecessary pacing hardware,” Sanghera said in prepared remarks. “We are excited to accelerate development efforts and look forward to bringing this new pacing option to patients and physicians alike.”
“AtaCor’s technology promises to be a step change in cardiac pacing, and we look forward to working closely with the AtaCor team to support their progress toward the clinic,” added Maria Berkman of Broadview Ventures.