Heart focused medical-technology company CardioNXT said today it raised $1.5 million in equity funding to support its platform of cardiac arrhythmia products.
CardioNXT is developing products to improve the understanding of complex cardiac arrhythmias such as atrial fibrillation and to reduce the cost of cardiac catheter ablation procedures, the company said.
Funds in the round came from Solas BioVentures as well as existing investors in the Westminster, Colo.-based company.
“Our mission is to invest in solutions that enable people to lead longer and fuller lives. Atrial Fibrillation affects 6.1 million Americans alone and many more people globally. AFib has been linked to stroke and dementia due to pooling blood and resultant clots traveling to the brain from the heart. The CardioNXT technology platform has the ability to revolutionize how we treat AFib as well as make therapies more affordable globally. We are excited to help CardioNXT bring its technology to market to help people lead longer and fuller lives,” Solas BioVentures managing partner Dr. David Adair said in a prepared statement.
CardioNXT said its products will “enable arrhythmia therapies to be adopted rapidly in global markets,” according to a press release. The company said it expects regulatory approval for its products in targeted markets within 9 months.
“We are fortunate to have found a partner in Solas BioVentures that truly appreciates our vision and mission of helping treat patients with cardiac arrhythmias such as AFib in a manner that is affordable for the entire world. CardioNXT was founded by an engineer and a cardiac electrophysiologist, our mission remains true to our core values from inception,” CardioNXT CEO Jerome Edwards said in prepared remarks.