Luma Vision announced today that it raised $22 million to support its bid for FDA clearance of its Verafeye imaging and navigation platform.
The company, headquartered in Dublin, Ireland, and Munich, Germany, develops novel four-dimensional (4D) technology. It designed Verafeye for cardiac imaging and navigation and has plans to build next-generation versions for additional applications.
Verafeye features data-driven software applications and a proprietary catheter sensor with advanced digital imaging and deep learning. Luma Vision says it provides high-resolution, 360-degree imagery of the beating heart and surrounding anatomy. It can be used with other catheters or systems during cardiac surgery.
With multiple applications in one platform, Verafeye can provide all imaging guidance needed during cardiac surgery in real-time. It eliminates the need for external systems like X-ray or CT as well.
Luma Vision said in a news release that Verafeye can provide accurate, precise and comprehensive anatomical data. It helps cardiologists guide personalized patient therapy across a variety of diseases. The company noted AFib, left atrial appendage closure and cardiac valve replacement as target areas.
CEO Fionn Lahart said the company addresses the need for accurate, real-time data at the point of care. Lahart outlined the company’s goal of providing data and imaging to successfully treat as many conditions as possible.
By developing a technology platform that can be tailored for specific therapies in cardiology, we believe that Verafeye can be a bedrock of medical imaging for many years to come,” Lahart said.
Details of the Luma Vision financing round
With the new funds, Luma Vision plans to push forward toward FDA clearance and prepare for U.S. commercialization. It also plans to use the Series A3 financing to develop the next generations of Verafeye.
Existing investors EQT Lifesciences, ABV Uni Fund and imec.xpand led the round. Atlantic Bridge Growth Fund, Bayern Kapital and an undisclosed investor joined.
Luma Vision adds the funds to grants collected from the Irish government’s Disruptive Technologies Innovation Fund ($6 million) and the European Union’s EIC Accelerator ($3 million).
“We are absolutely delighted to welcome to the company our new investors and gratified to secure the continued backing of our highly regarded existing investors,” Lahart said. “As a truly pan-European startup with offices in Dublin and Munich, we have grown our team significantly in the last three years and will continue to add world-class talent to help Luma Vision achieve its goals.”
