Advanced Cardiac Therapeutics Completes $5M Series B Equity Financing
Advanced Cardiac Therapeutics, Inc., a Laguna Beach, California-based developer of advanced irrigated cardiac ablation systems, completed a $5m Series B equity financing.
The round was led by NBGI Ventures, a venture capital firm specialized in medical technology investments.
The funds will be used to fund the commercialisation of its ablation catheter system advancing lesion control in Europe.
As also stated by Peter van der Sluis, ACT’s CEO, the completion of this B round funding allows the company to fully prepare for the commercial launch of its technology in 2010.
Gerard Harper of NBGI Ventures added: “We are delighted to support this exciting opportunity within the rapidly-growing cardiac catheter ablation market. ACT’s system has potential to bring a step-change in lesion control during these procedures and improve outcomes for patients”.
The company was founded in 2007 to develop a novel irrigated radiofrequency cardiac ablation catheter with a diagnostic application of established microwave radiometry technology in association with the founder of the technology, Dr Kenneth Carr, and an experienced catheter development partner, Contract Medical International, based in Dresden, Germany.