Ex-Medtronic chief William Hawkins III and Zyga CEO James Bullock led the round, joined by Piedmont Capital Partners and prior backer Solas BioVentures. Bullock led Atritech to a $100 million buyout by Boston Scientific (NYSE:BSX) and Endocardial Solutions, which St. Jude Medical (NYSE:STJ) paid $273 million for in 2005.
CardioNXT’s technology is designed to target and treat the ectopic cardiac tissue that contributes to atrial fibrillation.
“What appeals to me about this technology is its grass-roots clinical support from very experienced cardiac electrophysiologists,” Bullock said in prepared remarks. “I believe this is because the technology has the potential to truly improve outcomes in the treatment of atrial fibrillation while seamlessly fitting into intra-operative clinical workflow.”
“Atrial fibrillation is a huge problem globally. This technology has the potential to improve outcomes and make therapy available to patients globally,” Hawkins added.
“Persistent atrial fibrillation still remains a very challenging problem for us to treat. We are quite excited about the potential of this technology to fit into our standard catheter ablation workflow and we look forward to performing the Radar clinical study, which we now have FDA [investigational device exemption] approval for,” said Dr. Vivek Reddy of New York City’s Mount Sinai Hospital.
A year ago CardioNXT raised a $1.5 million equity round.