Funding Supports Regulatory Submissions and
Clinical Milestones for Proprietary Extravascular (EV) Pacing
& Implantable Cardioverter
Defibrillator (ICD) Lead Systems
SAN
CLEMENTE, Calif., April 24,
2024 /PRNewswire/ -- 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.
Funds support FDA submission for EV
temporary pacing lead system and 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. In
addition, the AtaCor solution will allow for:
- Temporary pacing lead placement without the need for medical
imaging for faster, less-invasive therapy delivery; and
- EV-ICD lead designs that use existing, commercially available
ICDs, offering physicians flexibility in their device
selection.
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."
About AtaCor Medical, Inc.
Atacor Medical is transforming cardiac pacing and defibrillation
lead technology with its proprietary extravascular cardiac rhythm
management system that provides the full benefits of traditional,
transvenous implantable cardiac defibrillation and temporary pacing
without placing leads or devices in the heart or vascular system;
maintaining the integrity of the heart for future cardiac care
needs.
For more information, please visit www.atacor.com.
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SOURCE AtaCor Medical Inc.