The new investment will support AtaCor’s efforts seeking US and EU regulatory approvals for novel extracardiac temporary pacing system
US-based implantable cardiac devices company AtaCor Medical has secured $25m in Series B financing, led by a corporate partner, to advance the development of its extracardiac pacing technology.
Existing investors including Broadview Ventures and aMoon Fund, along with new investors Hatteras Venture Partners, Catalyst Health Ventures (CHV) and Longview Ventures, an affiliate of Broadview also participated in the funding round.
AtaCor CEO Rick Sanghera said: “It is a great vote of confidence to close this $25M financing round and continue AtaCor’s dedicated work to develop our novel pacing therapy.
“We appreciate the support of the investor syndicate and look forward to finishing development and building further clinical evidence to bring our technology to patients.”
AtaCor develops cardiac pacing therapies and additional extracardiac therapies
AtaCor said that the new investment will support its efforts seeking US and EU regulatory approvals for novel extracardiac temporary pacing system, along with development of additional extracardiac therapies.
The company develops cardiac pacing therapies that prevent need for placing any hardware inside or onto a patient’s heart.
The technology has already been clinically evaluated and would offer an important alternative treatment option for patients requiring bradycardia pacing support.
In relation with the investment, Catalyst Health Ventures managing partner Darshana Zaveri, and and Hatteras Venture Partners partner Jeff Terrell will be appointed as a member of AtaCor board of directors.
Zaveri said: “AtaCor’s technology has the potential to bring tremendous benefit to the large population of patients who need cardiac pacing and fits very well with CHV’s mission to invest in breakthrough, therapeutic medical devices.
“We are excited to partner with this exceptional team and syndicate to support the next phase of the company’s growth.”
Established in 2014, AtaCor in involved in transforming cardiac pacing, with its extracardiac pacing lead, which is being designed to be inserted without any need for medical imaging, enabling faster, less-invasive therapy delivery.