DC Devices, Inc., a Tewksbury, Mass.-based medical device company developing structural heart devices, closed a $34m Series D financing round.
The round was led by Accelmed with contributions from existing investors Third Rock Ventures, General Catalyst Partners, and Lumira Capital, as well as a new undisclosed strategic investor.
The company intends to use the funds to complete clinical evaluation of its transcatheter device for the treatment of diastolic heart failure (DHF), which is a $5 billion global market opportunity.
Led by George Fazio, President and CEO, DC Devices has developed a proprietary, minimally invasive InterAtrial Shunt Device (IASD™) System intended to treat DHF, also known as heart failure with preserved ejection fraction (HFpEF). By placing a permanent implant in the atrial septum, the system is designed to reduce elevated left atrial pressure and relieve symptoms to allow physicians to perform the transcatheter treatment without open-heart surgery and in a controlled fashion, using standard interventional cardiology techniques.
It is not currently available for commercial distribution.
The company’s advisory board, which provides medical and strategic guidance for product development, clinical, and commercialization activities, includes Drs. Martin Leon, Gerd Hasenfuβ, Sanjiv Shah, David Kaye, Piotr Ponikowski, Daniel Burkhoff, Ted Feldman, Laura Mauri, Matthew Maurer, John Cleland, and Barry Borlaug among others.