CLEVELAND--(BUSINESS WIRE)--Sotera Medical Corp., a medical device company developing a novel device for use in cardiac procedures to treat atrial fibrillation, has closed initial seed funding in excess of one million dollars. The round was led by a syndicate of investors, including JumpStart Inc., North Coast Angel Fund, Northwest Ohio Tech Fund II managed by ProMedica Innovations, private investors, and the State of Ohio— which pooled resources to initiate the startup's first steps, including further technological development leading to first-in-human testing by late 2018.
“We are thrilled with our investment partners and this funding, which provides the resources to accelerate the development of this unique device and to demonstrate its clinical value,” said William Fuller, Sotera CEO and co-founder.
Atrial fibrillation (AF) is an irregular heartbeat that, if left untreated, can lead to blood clots, stroke, or heart failure. AF has reached epidemic proportions with an estimated 30 million people worldwide living with the condition. In the US, an additional one million people are diagnosed each year. The risk of developing AF increases with age, and as the population ages, the number of people needing treatment will continue to rise.
Catheter ablation is a minimally invasive treatment option for patients with AF that can relieve symptoms and improve quality of life. Overall, it is a successful treatment option, but like all procedures, it does carry some risks. One such risk is damage to the esophagus, which, while rare, can become a life-threatening complication.
To address this risk, Dr. Emile Daoud, co-founder of Sotera and director of electrophysiology and professor of clinical medicine at The Ohio State University Wexner Medical Center, and a team of physicians developed a unique device to better protect the esophagus during catheter ablation.
“Catheter ablation technologies for the treatment of AF are continually advancing and improving, but the problem of protecting the esophagus still exists,” said Daoud. “Sotera’s innovative technology addresses an important unmet need intended to improve patient outcomes and safety.”
“We are confident that this device provides a unique solution to protecting the esophagus and creating an opportunity to more safely deliver catheter ablation therapy to treat atrial fibrillation,” added Fuller.
Sotera Medical Corp. is a medical device company focused on innovative solutions for cardiac procedures. The company’s initial product is a simple, yet comprehensive solution for reducing complications to the esophagus during catheter ablation treatment for atrial fibrillation. Sotera's team is motivated by providing advanced solutions for superior healthcare.