KFAR-SABA, Israel & ALISO VIEJO, Calif.–(BUSINESS WIRE)–CathWorks announced the completion of a $30 million Series C financing round led by Deerfield Management.
Jim Corbett, CathWorks CEO, stated, “We are delighted to have such a notable investor leading this round and for the continued full participation of our existing syndicate of investors. Our company was fortunate to have tremendous excitement around the CathWorks FFRangio™ System following release of the FAST-FFR clinical study results. This funding, coupled with our recent FDA 510(k) clearance, paves the way for acceleration of our clinical and commercial activities in the United States.”
Deerfield Management Principal, Andrew ElBardissi, MD, added, “The CathWorks FFRangio platform technology has the potential to become standard of care in PCI [percutaneous coronary intervention] and other interventions where physiologic assessment is critical to determining which patients would benefit from revascularization. We believe there is tremendous clinical and economic potential for all stakeholders, including clinicians, patients and payors.”