Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!
Acutus Medical, Inc. Raises $21 Million Toward its B-Series Financing
, June 25, 2013
/PRNewswire/ -- Acutus Medical, Inc. (ACM), a medical device company developing a minimally invasive real-time 3D Cardiac Chamber Imaging and Dipole Density Mapping system for the identification of the sources that cause and/or sustain complex cardiac arrhythmias, including atrial fibrillation, announced it has completed an initial closing of $21 million
towards its Series B financing round. The round was led by new investor OrbiMed with the participation of existing investors. Proceeds will be primarily used to support the continued efforts in company's research and development, including clinical studies.
"We are very pleased to be working with our new investors as well as our current team as we continue our passion to develop the first clinical evidence-based system using 3D Cardiac Chamber Imaging and Dipole Density Mapping to identify the issues causing irregular heart rhythms, no matter the cause, then help physicians treat each patient's needs while reducing costs to providers and the healthcare system," said Randy Werneth, CEO of Acutus Medical.
"With investors like Index Ventures, Advent Ventures and now OrbiMed Ventures who all have a long track record of building great companies around transformative innovations, we believe this financing will support an exciting next chapter in advancing the technology of Acutus Medical to become the only system capable of mapping the source of all arrhythmias regardless of mechanism or substrate. With CT-quality imaging and Dipole Density-based activation, the combined information should make for more efficient procedures by identifying precise treatment targets, monitoring therapy progress, and identifying the clinical impact on the patient all in real-time," said Randy Werneth.
About Acutus Medical
Since June, 2011, Acutus Medical has pioneered a new and novel approach in the minimally invasive imaging and mapping of cardiac arrhythmias.
Acutus Medical has concentrated its efforts on developing its technology for the treatment of an aberrant arrhythmia, atrial fibrillation (AF). AF is an uncontrollable, rapid heartbeat that results in a significant decline in the quality of life and may lead to serious complications such as stroke or heart failure. Globally, in excess of 10 million people are afflicted with AF. Pharmacological therapy is the most common current treatment option, but it is expensive, often inadequate, palliative in nature, and does not cure AF.
Acutus Medical believes that its technology may eventually play a significant role in improving the lives of countless individuals who are afflicted by AF.
This press release includes forward-looking statements regarding Acutus Medical Cardiac Imaging and Mapping Technology System. Any statement describing Acutus Medical's goals, expectations, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement, including those statements that are described as Acutus goals. Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of discovering, developing and commercializing products and in the endeavor of building a business around such products. Acutus Medical's forward-looking statements also involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although Acutus Medical forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Acutus Medical. As a result, you are cautioned not to rely on these forward-looking statements.
For More Information, please contact:
Mr. Randy Werneth
CEO / President
SOURCE Acutus Medical, Inc.