Cardiac mapping & ablation system developer VytronUS said today it raised $49 million in a Series C round of equity financing.
Funds from the round will go to support technology refinements and clinical trials for the Sunnyvale, Calif.-based company’s low-intensity collimated ultrasound cardiac mapping and ablation system designed to treat atrial fibrillation and other arrhythmias.
“This financing is the culmination of the excellent progress the company has made over the last 2 years. We have developed a potentially game-changing technology platform, underscored by our successful clinical results to date. We greatly appreciate the commitment of our distinguished syndicate of investors and will use this infusion of capital to execute the multi-center EU and US clinical validation of our technology,” CEO John Pavlidis said in a press release.
The cardiac mapping and ablation system is designed to create a high resolution image of the interior of the heart to improve procedure planning and allow the physician to “draw a desired treatment pattern” on the image at the workstation, VytronUS said.
“The VytronUS system offers a potentially winning combination for AF and VT ablation: facile rendering of the 3D left atrial or ventricular anatomy, continuous transmural lesions without tissue contact, and importantly, the flexibility for operator-defined lesion paths with tissue thickness information,” Dr. Vivek Reddy of New York’s Mount Sinai Hospital said in prepared remarks.
“Despite significant limitations associated with currently available technologies, catheter ablation continues to be one of the fastest growing markets in the medical device sector. We are enthusiastic to continue our investment in VytronUS’s technology platform and outstanding team to support the company in the clinical validation phase,” VytronUS director David McIntyre said in a prepared statement.
“We have been long-term supporters of VytronUS because we believe the company’s revolutionary technology has the potential to help millions of people all over the world. With this latest investment, the company is very well positioned for success in multi-center clinical trials,” VytronUS director Dr. Justin Klein said in a prepared release.