Funding Supports Regulatory Submissions and Clinical Milestones for Proprietary Extravascular (EV) Pacing & Implantable Cardioverter Defibrillator (ICD) Lead Systems
he new financing was led by Arboretum Ventures. (Credit: Alexander Grey on Unsplash)
AtaCor Medical Inc., a privately-held medical device company delivering the next generation of extravascular leads to advance the care of cardiac rhythm management (CRM) patients, announced today that it has completed a $28M Series C financing round.
The new financing was led by Arboretum Ventures and includes existing investors Longview Ventures, Hatteras Venture Partners, Catalyst Health Ventures, and BayMed Venture Partners. AtaCor plans to use the new funds to support FDA submission for its extravascular temporary pacing lead system as well as completion of a pilot study for the third generation EV-ICD lead system.
“Arboretum Ventures is thrilled to lead this round and collaborate with the world class team at AtaCor in their efforts to deliver pioneering EV cardiac rhythm management solutions. The AtaCor technology has the potential to significantly improve the lives of millions that rely on pacemakers and ICDs for life sustaining rhythm management,” shared Jan Garfinkle, Founder and Managing Partner at Arboretum Ventures.
“We welcome the Arboretum team to AtaCor and look forward to having Jan’s expertise and guidance in the boardroom,” said Rick Sanghera, CEO of AtaCor Medical. “As we plan for our upcoming clinical and regulatory milestones, this investment supports efforts that will bring AtaCor’s novel products to patients.”
AtaCor’s proprietary EV cardiac pacing and defibrillation lead systems are being designed to provide critical CRM therapy without placing any hardware inside the patient’s heart; leaving the heart untouched and protected for future care needs.
AtaCor’s EV-ICD and temporary pacing systems have been evaluated in several clinical studies and are designed to offer an important alternative treatment option for patients requiring bradycardia and implantable defibrillation therapies.
“We are thrilled to partner with Arboretum Ventures on the next steps of AtaCor’s development that expands its product platform of extravascular cardiac pacing and defibrillation,” said existing investor and Board Chair, Maria Berkman of Longview Ventures. “Producing safe, effective, and readily deliverable EV ICD and pacing options continues to address a significant unmet need, and we are confident about AtaCor’s promise to deliver novel solutions in this space.”
Source: Company Press Release