Cardiac Dimensions, a Kirkland, Washington; Sydney, Australia and Frankfurt, Germany-based developer of minimally invasive treatment modalities to address heart failure and related cardiovascular conditions, raised an additional $8.5m in funding.
The round was led by Arboretum Ventures, with a participation from institutional investors from Australia, the U.S. and Canada that includes M.H. Carnegie & Co. and Lumira Capital.
The company, which has raised the aggregate amount of $28.5m together with the financing announced in April, intends to use the funds to support the completion of its clinical trial in the field of functional mitral regurgitation (FMR) and expand its commercial expansion plans.
Led by Rick Stewart, Chief Executive Officer, Cardiac Dimensions develops the CARILLON Mitral Contour System, which combines a proprietary, implantable device with a percutaneous catheter delivery system to reduce functional mitral regurgitation (FMR).