(Mass Device) — Extracardiac temporary pacing technology developer AtaCor Medical announced today that it completed a $25 million Series B financing round.
Existing investors Broadview Ventures and aMoon Fund led San Clemente, Calif.-based AtaCor’s funding round, while new investors Hatteras Venture Partners, Catalyst Health Ventures and Longview Ventures contributed. Hatteras partner Jeff Terrell and Catalyst Health Ventures managing partner Darshana Zaveri will also join AtaCor’s board of directors.
AtaCor said in a news release that the investment is earmarked for efforts to garner U.S. and European regulatory clearances for its novel extracardiac temporary pacing system, while it may also be used to fund development efforts for additional extracardiac therapies.
The company’s extracardiac pacing therapy system does not require hardware to be placed inside or onto a patient’s heart, meaning there is no need for medical imaging, allowing for faster, less-invasive therapy delivery. AtaCor said the technology already completed early clinical evaluation.
“AtaCor’s technology promises to be a step-change in cardiac pacing,” Maria Berkman, of both Broadview and Longview Ventures, said in the release. “With early clinical data in hand, the company is now poised to develop the technology through regulatory approval, and we are thrilled to be supporting that work.”
“AtaCor’s technology has the potential to bring tremendous benefit to the large population of patients who need cardiac pacing and fits very well with CHV’s mission to invest in breakthrough, therapeutic medical devices,” added Zaveri. “We are excited to partner with this exceptional team and syndicate to support the next phase of the company’s growth.”