CardioFocus this week reported a funding round worth nearly $32 million and said it inked a distribution deal in Japan for its HeartLight laser ablation system for treating atrial fibrillation.
Marlborough, Mass.-based CardioFocus said in a regulatory filing that it raised $31.7 million in an equity offering it hopes will bring in a total of $33.2 million, including the conversion of promissory notes.
The funds were raised from a syndicate of 32 unnamed investors, according to the Jan. 5 filing. The 1st sale occurred Dec. 22, 2014, CardioFocus said.
The company also announced the Japanese distribution deal Jan. 5, saying it signed on for Japan Lifeline Co. to distribute the HeartLight device in the Land of the Rising Sun.
"Now that more than 2,500 patients have been treated using the HeartLight system and our U.S. pivotal trial has entered the analysis phase, we’re confident about our clinical utility and eager to extend the availability of our products to Japan, 1 of the largest medical markets in the world. Our company has been pleased to find such a talented and capable team as the JLL group with whom to entrust our products and pursue this substantial opportunity," president Stephen Sagon said in prepared remarks.
The deal gives the Japanese company exclusive, multi-year distribution rights to the HeartLight system, according to a press release.
