Atraverse Medical has announced the close of US$29.4 million in follow-on financing to accelerate growth, building upon the US$12.5 million in prior seed investment that was previously used to obtain US Food and Drug Administration (FDA) 510(k) clearance and begin early commercialisation of Hotwire—the company’s novel radiofrequency (RF) guidewire for left-heart access.
Designed to simplify left-heart access through universal sheath compatibility and a zero-exchange workflow, and engineered for “enhanced echogenicity and increased rail stiffness”, Hotwire is the focus of the company’s current US commercialisation strategy.
“This financing is a major milestone for Atraverse and underscores our evolution from a startup company to an emerging growth corporation,” commented John Slump, chief executive officer (CEO), president and co-founder of Atraverse. “We’re scaling manufacturing, expanding our team, and investing in new product development to build on the Hotwire platform. Our investor syndicate includes angel investors, family offices and medtech entrepreneurs who share our conviction that Hotwire is setting a new standard as the future of left-heart access.”
“The most transformative medical technologies don’t just improve procedures—they reimagine entire categories,” added Jean-Luc Pageard, an entrepreneur, investor and innovator of multiple technologies in the electrophysiology/cardiology arena. “Hotwire is redefining how physicians approach left-heart access. I invested in Atraverse because the company is developing a scalable, category-shaping innovation that is likely to become the new standard of care for left-heart access.”
Cleared by the US FDA in May 2024, Hotwire is approaching its first 1,000 successful procedures across 10 different introducer sheaths as part of a limited market release, according to Atraverse’s recent release.
“Hotwire delivers clinically significant advantages over existing left-heart access devices, and we are excited to be an early adopter and commercial customer,” said Vivek Reddy (Mount Sinai Hospital, New York, USA), co-author on studies regarding clinical experience with Hotwire.
