Cardiac Dimensions has raised $39m financing for the Carillon Mitral Contour System to treat patients with heart failure.
Australia-based Hostplus was the new investor and Oxford Finance made a venture debt contribution.
Existing investors M. H. Carnegie, Arboretum Ventures, Lumira Capital, LSP Health Economics Fund and Aperture Venture Partners also participated in the round.
Cardiac Dimensions will use the funds for clinical studies of the Carillon system and commercial expansion in the European Union and Australia.
Cardiac Dimensions president and CEO Gregory Casciaro said the company’s clinical data and commercial experience suggest that the Carillon System offers a viable treatment option that addresses the underlying mechanical problem of functional mitral regurgitation (FMR) with a catheter-based alternative to medications and invasive surgery.
The Carillon system, which has CE Mark and is available in several European markets, is a percutaneous mitral annuloplasty therapy designed to be deployed using standard interventional techniques.
The implantable device, which is introduced via a large vein from the right side of the patient, features a proximal anchor and a distal anchor linked by a shaping ribbon.
The device is designed to reduce mitral annulus dilatation after deployment, thereby decreasing FMR.
Delivered through the venous vasculature, the Carillon device has the potential to treat heart failure patients in a minimally invasive way.
Cardiac Dimensions said over 100 patients have finished long-term follow-up in international, prospective, multicenter clinical studies with the Carillon Device. In all the trials, the device was demonstrated to be effective, efficient and flexible.
Casciaro said: “This funding will provide the resources to complete and publish the landmark REDUCE FMR trial, continue to support enrollment in The CARILLON pivotal trial here in the U.S., and enhance our presence throughout world markets.”
Cardiac Dimensions develops minimally invasive treatment modalities to address heart failure and associated cardiovascular conditions.
The company has operations in Kirkland, Washington, Sydney, Australia and Offenbach, Germany.
Image: Open Artificial Human Heart Model. Photo: courtesy of Ben Schonewille at FreeDigitalPhotos.net.