Angel Medical Systems, Inc., a Shrewsbury, NJ-based medical device company developing technologies for continuous intracardiac ischemia monitoring and alerting, completed an initial closing of an aggregate $27.5m financing.
Backers included existing venture capital, strategic partner and angel investors, as well as a new investor group, SOAM Angel Partners, LLC.
Led by Dr. David Fischell , Chief Executive Officer, Angel Medical Systems provides the AngelMed Guardian System heart monitor, which is designed to track significant changes in the heart’s electrical signal, identify the signature of acute thrombotic occlusions, and alert the patient to seek immediate medical attention. The system has CE Mark approval in Europe, is being actively implanted in Germany and commercially available in Brazil. St. Jude Medical, Inc. has licensed AngelMed’s detection algorithm for use its implantable cardioverter defibrillators (ICDs), which are commercially available in Europe, and are currently in U.S. clinical studies.
The company intends to use the capital to complete Phase II Pivotal Trial of the AngelMed Guardian System, for research and development of ischemia monitoring device, and continued expansion and commercialization in Europe and Brazil.
In conjunction with the funding, Dr. Victor Whitman , a principal at SOAM Angel Partners, joined AngelMed’s board of directors.