CardioInsight has announced that it has completed a long-term strategic financing that provides the company with an initial investment of US$15 million.
With this financing, the company announced, that it will have the capital necessary to complete ongoing multicentre clinical studies in Europe, further advance product development programmes, and secure regulatory clearance for the company’s multiple chamber cardiac mapping technology (ECVUE) in the United States.
“This is an important financing transaction for the company as it provides the resources necessary to accelerate and achieve key milestones in the continued evolution of the company’s revolutionary non-invasive, multiple chamber cardiac mapping technology,” says Patrick Wethington, president and CEO of CardioInsight. “The ability to complete this transaction is further validation of the strength of the company’s clinical experience with its technology, and a representation of the broad potential this platform offers patients suffering from cardiac arrhythmias and other electrical disorders of the heart.”
To date, CardioInsight’s electrocardiographic mapping platform, according to the company, has been utilised in over 800 patients in multiple centres and multiple arrhythmia types. Results of these studies have generated nearly 100 publications and presentations in peer-reviewed journals and at international clinical conferences. This includes recent publications in the Journal of the American College of Cardiology (JACC) and presentations during the 2013 Heart Rhythm Society Scientific Sessions.
Jay Katarincic, Managing Director of Draper Triangle Ventures, says: “Not only does this financing support CardioInsight’s continued growth, but more importantly is a testament to its ability to develop a world-class product which will change the standard of care in cardiac mapping.”
About the ECVUE system
The ECVUE system non-invasively generates real-time, whole heart images of the electrical activity on the surface of the heart by combining body surface electrical data with 3D anatomical data. It then reconstructs and displays 3D maps and other useful measures of cardiac electrical activity as if the measurements were taken directly from the surface of the heart.