Syncardia put together a $19 million financing package to back the spinout of its total artificial heart technology, hard on the heels of an FDA win for the device.
The bulk of the financing, $15 million, was doled out by New York-based funding group Athyrium Investors, with the balance coming from existing backers.
"Syncardia’s recent growth is likely the beginning of a longer-term trend," Laurent Hermouet, Athyrium partner, said in prepared remarks. "The total artificial heart will soon be able to address the entire biventricular heart failure market, thanks to newer offerings like the Freedom driver as well as the 50cc version of the total artificial heart. This broader product offering coupled with convincing clinical and intermacs data makes partnering with Syncardia a compelling opportunity."
The 50cc version of Syncardia’s device recently won HUD designations from the FDA for use in children, women and other patients with small stature.