Non-invasive fractional flow reserve tech developer CathWorks said yesterday it closed a $15.8 million Series B round of financing to support its real-time digital platform designed to determine FFR in cath labs.
The round was led by Quark Venture and Triventures and joined by Planven Investments, Pontifax, Corundum Open Innovation, BioStar Ventures and an unnamed strategic investor, the Israel-based company said.
CathWorks FFR platform is designed to be used in under 5 minutes and uses standard angiographic images, the company said. A proprietary set of algorithms are used to reconstruct the coronary tree in 3D to provide a full FF analysis of all visible coronary arteries simultaneously, CathWorks added.
“We are enthusiastic that CathWorks’ digital FFR platform can both improve patient care and reduce costs while enhancing workflow in the cath lab. By applying novel mathematical approaches to measuring flow reserve, Cathworks makes real time virtual FFR a reality. Clinical testing in more than 400 patients has made me confident in the sensitivity and specificity of the Cathworks product as compared to wire based FFR,” Triventures managing partner Dr. Peter Fitzgerald said in a prepared statement.
Funding from the round will support a global pivotal trial of the system and support FDA 510(k) submission in hopes of regulatory approval, CathWorks said. The company received CE Mark approval in the European Union earlier this year.
“FFR has become a standard in the enablement of evidence-based treatment in coronary catheterizations. We intend to make FFR accessible to more patients by facilitating its widespread application without the use of invasive wires or the infusion of adenosine. We are delighted to receive the support of such an experienced group of investors,” CathWorks CEO and founder Guy Lavi said in a press release.