Topera said a new backer, New Enterprise Assoc., led a $25 million Series C round first reported by MassDevice.com last month, with an unnamed "strategic industry partner" joining the round.
The San Diego, Calif.-based startup, which came out of stealth mode at the Heart Rhythm Society meeting last year, won 510(k) clearance from the FDA for its RhythmView 3D mapping system to treat patients with cardiac rhythm disorders by targeting treatment on electrical "hot spots" in the heart.
Yesterday Topera said it plans to use some of the proceeds from the round to back its plans to commercialize the device next year in the U.S. and Europe, according to a press release.
"We are pleased to partner with this experienced group of investors as we continue our mission to help clinicians obtain information about the sources sustaining complex arrhythmias to significantly improve long-term patient outcomes while reducing costs to providers and the healthcare system," CEO Edward Kerslake said in prepared remarks.
Topera originally unveiled the highly anticipated results of its Confirm study at the Heart Rhythm Society’s annual meeting in Boston in May 2012, touting a 100% success rate. In July, the company released other results from the trial in which researchers said they were able to "shut down atrial fibrillation or very significantly slowed it in 86% of patients in an average of only 2.5 minutes."
Opko to buy Prolor Biotech in $480M all-stock deal
Opko (NYSE:OPK) and Prolor Biotech (NSDQ:PBTH) said they agreed to an all-stock merger that will see Prolor shareholders receive 0.9951 shares of OPKO stock for each Prolor share, making the deal worth about $480 million.
InVivo Therapeutics claims to begin commercialization
InVivo Therapeutics (OTC:NVIV) has begun "commercialization for multiple products," CEO Frank Reynolds claimed in a press release. The FDA has yet to approve the company’s flagship biopolymer spinal cord injury scaffold, but the Cambridge, Mass.-based company did win an FDA nod to begin an investigational device exemption trial of 5 patients over 15 months. Still, Reynolds said, the company is "full steam ahead on commercialization for multiple products. We expect that 2 510(k) neurological devices will enter the market by the end of 2014."
Safeguard Scientifics invests in Pneuron, Sotera Wireless
Safeguard Scientifics (NYSE:SFE) said it invested undisclosed amounts in a pair of new medical device companies, Big Data firm Pneuron Corp. and Sotera Wireless.
EndoStim takes latest round to nearly $13M
EndoStim added another tranche to its $16.5 million equity round, according to a regulatory filing, saying it’s added some $12.8 million to its coffers as it develops a pacemaker-like implant to treat gastro-esophageal reflux disease.
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