Cardiac Dimensions, a Kirkland, Wash.-based provider of development of minimally invasive treatments for patients with heart failure, closed a $39m Series B financing.
The round included new investor, Australia-based Hostplus, venture debt from Oxford Finance LLC, as well as support from existing investors M. H. Carnegie & Co., Arboretum Ventures, Lumira Capital, LSP Health Economics Fund and Aperture Venture Partners.
The company intends to use the funds to continue to build clinical evidence for its Carillon® Mitral Contour System® for the treatment of functional mitral regurgitation (FMR) in patients with heart failure, including continuing The CARILLON Trial U.S. pivotal study and completing the follow-up and publication of the landmark randomized, double-blinded REDUCE FMR global study.
Led by Gregory D. Casciaro, president and CEO, Cardiac Dimensions is advancing The Carillon System, which is designed to offer physicians an option to treat patients earlier in their disease diagnosis, including those with lesser degrees of FMR (2+ MR grade), to slow disease progression, and stabilize or improve quality of life.
The Carillon System – limited to investigational use in the U.S. – treats the dilated mitral annulus, the underlying mechanical problem of FMR, with a catheter-based alternative to medications and invasive surgery.