A company providing what a press release calls “next-generation electrophysiology technology solutions” has announced that it now has US$170m financing. The press release reports that this includes a US$100 million Series D equity financing and a US$70 million credit facility. It states that the funding intended to accelerate commercialisation and facilitate global business development activities as Acutus Medical “continues to transform arrhythmia care through distinct, innovative technologies designed to provide physicians and patients with improved results”.
The Series D equity financing round included new investors 8VC, Opaleye Management, Pura Vida Investments, among others. The round also included, according to the press release, “strong participation” from existing investors including OrbiMed, Deerfield Management Company, Advent Venture Partners, Xeraya Capital and GE Ventures. The credit facility was provided by OrbiMed Credit and Royalties Fund and Deerfield Management.
Acutus provides next-generation electrophysiology technology solutions that can enable personalised and adaptive approaches to therapy. The press release reports that its AcQMap is the “first and only” cardiac imaging and mapping system that incorporates precision ultrasound atrial anatomy reconstruction and highly reproducible, high-definition non-contact charge density mapping. The system also provides workhorse contact mapping capabilities (available in Europe). AcQMap’s increased clarity of arrhythmia pattern mapping is designed to aid in the development of patient specific ablation strategies. Unique to this system, physicians can rapidly remap and confirm the impact of each ablation.
Vince Burgess, CEO, Acutus Medical, says: “This round of financing is a clear demonstration of confidence in our strategic direction and ability to disrupt the electrophysiology space by delivering advanced, innovative technologies to our customers. Advanced imaging, individualised therapy and increased procedural efficiency are needed components to progress the electrophysiology field. We are dedicated to improving every aspect of cardiac ablation, as evidenced by our recent closing of the acquisition of Rhythm Xience to provide a novel suite of products designed to improve the safety and speed of left atrial access.”
Proceeds from the announced financing will allow Acutus to increase market availability of the Company’s FDA and CE marked AcQMap products as well as a suite of FDA-cleared, electrophysiology-designed vascular access products: AcQCross QX, AcQGuide Flex and AcQGuide Mini.