CardioKinetix Inc., a Menlo Park, CA-based medical device company that has developed a novel transcatheter implant called the PARACHUTE™ Ventricular Partitioning Device, has raised $44m in a two-tranche Series E financing.
The round was led by new investors SV Life Sciences and New Leaf Venture Partners, who joined existing investors, including U.S. Venture Partners, J.P. Morgan Partners, and H&Q Healthcare Investors (NYSE: HQH).
In conjunction with the financing, Paul LaViolette, Partner at SV Life Sciences, and Jeani Delagardelle, Managing Director at New Leaf Venture Partners will join CardioKinetix’s Board of Directors.
Led by President and CEO Wes Johnson, Parachute™ is implanted into the left ventricle of the heart in a catheter lab procedure and is intended to treat patients with heart failure resulting from a myocardial infarction or heart attack. It recently received the CE Mark. The company is currently conducting clinical studies in Europe and the FDA has approved an IDE Pivotal Trial for Parachute™ based on the results from a feasibility study.