OneProjects, a Dublin, Ireland and Munich, Germany-based developer of four-dimensional (4D) cardiac imaging technology, raised $17m in financing.
The round included:
- an $8m Series A2 financing and,
- two grants worth $9m.
The Series A2 financing was led by imec.xpand, with participation from the European Innovation Council (EIC) Fund and existing investors, including LSP and Atlantic Bridge Ventures. It is an extension to the company’s 2020 Series A1 funding that was led by LSP and co-led by Atlantic Bridge Ventures. The grants were awarded by the Irish government’s Disruptive Technologies Innovation Fund ($6m) and the EIC Accelerator ($3m).
Co-founded by CEO Fionn Lahart and CTO Christoph Hennersperger in 2017, OneProjects designs and develops an innovative 4D imaging platform for cardiac applications that operates at the intersection of hardware, software, and data science.
Originating from Bioinnovate Ireland and spun out of Trinity College Dublin, the company will use the new funds to complete product development, conduct clinical trials, gain FDA clearance and prepare for U.S. commercialization of the first product developed from its proprietary 4D cardiac imaging platform, VERAFEYE™. This technology is designed to improve the treatment of atrial fibrillation and other cardiac arrhythmias, and can also be applied to benefit structural heart procedures.
The VERAFEYE™ imaging technology uses a proprietary catheter-based sensor combined with advanced imaging and machine learning to provide live 360-degree, high-resolution imagery of the beating heart, as well as real-time tissue analysis to determine where tissue has been fully ablated. The goal is to enable physicians to optimize outcomes and safety during catheter ablation procedures in order to improve their success rate, which has the potential to reduce overall costs to the healthcare system.
OneProjects has added Steven Girouard as an independent board director. Girouard is the former President and CEO of Securus Medical Group, which was acquired by Boston Scientific. He is a veteran of the medical device industry and has held executive management positions at Johnson & Johnson, Guidant Corporation, Cleveland Clinic, and Oakwood Medical Investors. He has extensive experience in early-stage research and development, preclinical and clinical research, business development, and venture capital.