Advanced Cardiac Therapeutics Completes Equity Financing Round
Advanced Cardiac Therapeutics, Inc., a Santa Clara, CA-based medical device company that is developing a temperature-sensing, irrigated, radiofrequency (RF) ablation catheter for treatment of cardiac arrhythmias, completed a new round of equity financing.
The amount of the transaction was not disclosed.
The round was led by New Enterprise Associates with participation from existing investor NBGI Ventures. In conjunction with the financing, Justin Klein, Partner at NEA, joined the Board of Directors, along with Duke Rohlen, CEO at Ajax Vascular, who joined as the newly appointed Executive Chairman of the Board, and Mike Pederson, CEO of VytronUS and former VP & General Manager of Electrophysiology at Boston Scientific. Bill Olson will transition from CEO to an independent director on the Board.
The company intends to use the funds to advance its TempaSure™ ablation catheters and related clinical development program.
Advanced Cardiac Therapeutics develops an innovative temperature-sensing irrigated RF ablation catheter for treatment of cardiac arrhythmias. Its TempaSure™ technology features proprietary microwave radiometry technology that can accurately assess volumetric temperature in the heart in real time so that physicians can more precisely control and predict lesion formation for improved clinical outcomes.
The company is developing catheters for a range of ablation procedures, including atrial fibrillation.