CARLSBAD, Calif.--(BUSINESS WIRE)--Acutus Medical, an electrophysiology company committed to transforming how electrophysiologists (EPs) image, diagnose and treat complex arrhythmias, today announced that the company has closed a $75 million Series C financing. The all-equity financing round included new investors Deerfield Management Company, Xeraya Capital and an undisclosed strategic investor. Also participating in the round were existing Acutus Medical investors Advent Life Sciences, which has been an investor in the company since its inception along with OrbiMed and GE Ventures, which joined in the B-series.
“The Acutus Medical AcQMap™ technology has the potential to play an important role in the detection and treatment of atrial fibrillation (AFIB),” said Steve Hochberg, partner at Deerfield. “Presently, EPs are only able to map the inside of the heart chamber by actually touching the heart wall with a catheter one location at a time. This limitation prevents the EP from truly seeing the AFIB in a complete, full chamber, high-resolution view, leading them to treat the patient via an empirically-based approach versus an evidence-based approach. AcQMap allows EPs, for the first time, to see a three dimensional, high-definition view of the heart chamber and its electrical activity in real-time, helping them to make critical treatment decisions based on clear evidence of the abnormality causing the arrhythmia.”
The key differentiator of the AcQMap High Resolution Imaging and Mapping System is its ability to truly map AFIB and other complex arrhythmias, identify the mechanism of those arrhythmias, and provide a guide for ablation therapy. In addition, AcQMap can show the EP the effectiveness of the therapy in real-time. After the ablation has been delivered and upon the next heartbeat, a new complete map is rendered to confirm how the therapy changed the electrical pattern inside the heart. This real-time feedback loop can continue until the EP is satisfied that the therapy and the procedure have been successful.
Proceeds from the Series C financing will allow Acutus to continue to develop the entire suite of AcQMap products necessary to perform any catheter-based procedure, expand its clinical programs worldwide and continue developing a U.S. and European sales force in preparation for commercialization in both geographies.
“The rapid pace of progress in the past few years has brought Acutus from an early stage start-up to a company on the verge of a commercial launch,” said Randy Werneth, president and chief executive officer of Acutus Medical. “That progress has energized our existing syndicate of top-tier investors and financial partners, while attracting the participation of new, world-class investors to participate in the next critical stages of the company. Their support and shared vision for the company are essential for us to complete our regulatory and clinical milestones in preparation for commercialization.”
About Acutus Medical
Acutus Medical is a global heart rhythm technology company transforming the way electrophysiologists (EPs) diagnose and treat cardiac arrhythmias. The company is currently pursuing CE mark approval in Europe for the full suite of AcQMap™ System products. Acutus Medical is a privately held company located in Carlsbad, CA. To learn more, visit http://www.acutusmedical.com.
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