SAN CLEMENTE, Calif.–(BUSINESS WIRE)–April 28, 2020–

AtaCor Medical, Inc. introduced in the present day that’s has accomplished a $25M Series B financing. The financing syndicate, led by a company associate, consists of present buyers Broadview Ventures and aMoon Fund in addition to new buyers Hatteras Venture Partners, Catalyst Health Ventures (CHV) and Longview Ventures, a Broadview affiliate. The funding helps efforts to achieve US and EU regulatory clearances for AtaCor’s novel extracardiac momentary pacing system in addition to growth efforts for extra extracardiac therapies.

“It is a great vote of confidence to close this $25M financing round and continue AtaCor’s dedicated work to develop our novel pacing therapy,” mentioned Rick Sanghera, AtaCor’s CEO. “We appreciate the support of the investor syndicate and look forward to finishing development and building further clinical evidence to bring our technology to patients.”

AtaCor is growing novel cardiac pacing therapies that don’t require any {hardware} to be positioned inside or onto a affected person’s coronary heart. The expertise has already accomplished early medical analysis and can provide an necessary various remedy choice for sufferers requiring bradycardia pacing assist.

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“AtaCor’s technology promises to be a step change in cardiac pacing. 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,” mentioned Maria Berkman, of Broadview Ventures and Longview Ventures.

Darshana Zaveri, Managing Partner of Catalyst Health Ventures, who will probably be becoming a member of AtaCor’s Board of Directors, added that, “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. We are excited to partner with this exceptional team and syndicate to support the next phase of the company’s growth.”

“Hatteras is thrilled to support the AtaCor team in the development of this disruptive extracardiac pacing technology. We have been impressed by the work done to-date and are eager to be a part of this journey among such great partners,” mentioned Jeff Terrell, Partner at Hatteras Venture Partners, who additionally will probably be becoming a member of AtaCor’s Board of Directors.

Existing investor Roy Wiesner, Managing Director at aMoon Fund, added that, “AtaCor is pioneering the transformation of cardiac pacing – both in terms of safety and patient comfort. We are excited to continue and strengthen our partnership with the company and look forward to working with the management team and the new funding partners to bring AtaCor’s vision to market.”

About AtaCor Medical, Inc.

Today, when sufferers require pacemaker remedy, pacing {hardware} is inserted into the veins and connected to the within of the center, a course of requiring intensive x-ray imaging. Once implanted, this {hardware} can result in critical issues with difficult removing procedures, even for newer “leadless” pacemakers. Temporary pacing leads, utilized in emergencies and different deliberate procedures equivalent to TAVR, usually pressure bedrest restrictions on sufferers, and carry their very own set of dangers.

Established in 2014, AtaCor Medical is remodeling cardiac pacing. AtaCor’s extracardiac pacing lead is being designed to be inserted with none want for medical imaging, permitting for sooner, less-invasive remedy supply. The distinctive placement avoids the necessity to entry the affected person’s vascular system and leaves the center utterly untouched. Furthermore, the extracardiac lead is designed to remove bedrest restrictions related to momentary pacing, thereby enhancing affected person mobility and post-procedural restoration.

AtaCor’s management team is comprised of seasoned consultants from inside the implantable cardiac gadget and electrophysiology fields, with over 80 years of mixed expertise. The firm’s extracardiac pacing system is being developed for momentary and everlasting pacing markets and isn’t but accepted on the market in any geography.

For extra data, please go to www.atacor.com.

AtaCor Medical Secures $25M Financing to Continue Extracardiac Pacing Development

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AtaCor Medical, Inc.
Rick Sanghera
[email protected]