Ally Bridge Group led the Series E round, while new investor Claret Capital Partners joined in. Existing investors also provided significant participation. That list includes Hostplus, M.H. Carnegie, Horizon 3 Healthcare, Lumira Ventures and a confidential strategic investor.
The company plans to use funds to complete a U.S. pivotal study and support the commercialization of its Carillon Mitral Contour System.
Kirkland, Washington–based Cardiac Dimensions designed Carillon to restore natural mitral valve function without damaging the mitral valve leaflets. The simple, catheter-based procedure restores the valve’s natural function and promotes favorable left ventricular remodeling.
Cardiac Dimensions notes clinical studies highlighting reductions in mitral regurgitation (MR) and improvements in quality of life. Carillon also demonstrated extended survival for a broad range of patients with functional mitral regurgitation (FMR). Carillon can act as a front-line treatment for early-stage FMR as it doesn’t prevent the use of other future therapies.
“Cardiac Dimensions is uniquely positioned to provide a safe, simple, and effective solution for heart failure patients suffering from FMR. A financing of this magnitude reflects the strong conviction of Ally Bridge, as well as our existing insiders, in the Carillon therapy’s ability to play a central role in the treatment of this high-need patient population,” said Rick Wypych, president and CEO of Cardiac Dimensions. “With these additional resources, we are also well-positioned to continue our global commercial expansion of the Carillon therapy to improve the lives of patients with this debilitating disease.”
