CardioFocus, Inc., a Marlborough MA-based developer of an Endoscopic Ablation System for the transcatheter treatment of Atrial Fibrillation, completed a $30.6m financing.
Investors include new backers Fletcher Spaght Ventures, Manatuck Hill Partners and First Alliance & Capital Invest, Ltd and previous shareholders SV Life Sciences, H.I.G. BioVentures, Accuitive Medical Ventures, The Aurora Funds, Oxford Bioscience Partners, Kestrel Venture Management and KBL Healthcare Investors.
The company intends to use the funds to continue the commercialization of its system in Europe and start a multi-center US IDE Pivotal study, which is expected to commence during the first half of 2011 (The CardioFocus Endoscopic Ablation System is not approved by the U.S.).
Led by President and CEO Stephen Sagon, CardioFocus launched its system in late 2010 and now plans to proceed at key institutions in Europe in 2011.