CathWorks reported the completion of a US$30 million Series D financing round, proceeds from which will be used to expand commercialisation of the company’s FFRangio system.
The CathWorks FFRangio system is a non-invasive diagnostic technology that is used at the time of a routine angiography. According to CathWorks, the system transforms routine angiogram images into objective and comprehensive physiology information, including color-coded 3D renderings of blood flow in the heart’s arteries to help physicians optimise coronary artery disease decision making, including whether a stent is needed.
Jim Corbett, CathWorks CEO, stated: “We are delighted to have received this round of funding, which included both new and existing investors. Our initial market launch demonstrated there is tremendous excitement around the clinical value of the CathWorks FFRangio system. This funding paves the way for continued commercialisation and expanded access to the technology for physicians, hospitals and patients.”
“The non-invasive FFRangio system has the potential to become standard of care, providing significant clinical and economic value,” Mr. Corbett added. “We are very excited for this investment supporting FFRangio market expansion.”