Conformal Medical announced today that it closed a Series D extension financing totaling $32 million in proceeds.
The company originally completed its Series D round in 2023, bringing in $35 million. With a new partner joining inside investors, the company is adding the $32 million to support its heart implant technology.
Nashua, New Hampshire-based Conformal develops the CLAAS AcuForm left atrial appendage occlusion (LAAO) system. It builds upon the novel CLAAS device. CLAAS AcuForm conforms and seals the LAA with its proprietary foam-based architecture. The implant aims to simplify delivery and eliminate the need for procedural transesophageal echocardiogram (TEE). This could enable physicians to perform the procedure without general anesthesia.
Conformal plans to use funds to support the enrollment of its ongoing CONFORM pivotal trial and fund pre-commercialization initiatives for CLAAS AcuForm. CONFORM evaluates the safety and efficacy of CLAAS compared to other commercially available LAAO devices. The company expects it to support FDA premarket approval (PMA).
“We are pleased to have treated over 100 patients with the next-generation AcuFORM™ System, with impressive deliverability and safety performance to date,” said James Reinstein, president and CEO of Conformal Medical. “We look forward to building upon this robust body of evidence to further validate our one-size strategy, and the promising experience from our GLACE trial, demonstrating successful use of ICE guidance as it would eliminate the need for general anesthesia and intubation for these procedures.”
Piper Sandler acted as exclusive financial advisor, and Gunderson Dettmer acted as legal counsel to Conformal Medical in this transaction.
