CardioMEMS Completes $37.9M Financing

CardioMEMS, Inc., an Atlanda, Georgia-based medical technology company that has developed and is commercializing a proprietary wireless sensing and communication technology for the human body, completed a $37.9m financing.
The new capital will allow the compant to complete its CHAMPION clinical trial. Initiated in 2007, the trial is evaluating the safety and effectiveness of CardioMEMS’ heart failure (HF) pressure measurement system in 550 patients in the U.S. Full patient enrollment in CHAMPION was completed in 2009.
The CardioMEMS wireless HF sensor is an innovative miniature device which is implanted into the patient’s pulmonary artery using a simple, catheter-based procedure.

The pulmonary artery pressure is then measured and displayed using the CardioMEMS proprietary electronic monitoring system. Following the procedure, patients perform wireless measurements of their pulmonary artery pressure from home.
The data is immediately transmitted to a database and is available for review by the implanting physician on the company’s Web site.
CardioMEMS, which completed a $22.1m financing in September 2009, is located at Technology Enterprise Park.

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