A catheter and surgical ablation device maker working toward enabling less-invasive treatment of atrial fibrillation is looking for a big round of fresh capital for its next move.
Morrisville, North Carolina, company nContact Inc. has already secured $6.7 million from a handful of investors and could continue raising up to $13 million, according a U.S. Securities and Exchange Commission filing.
nContact makes an endoscopic cardiac ablation system that combines suction capabilities, radio-frequency energy and perfusion to create lesions on the heart to disrupt the erratic electrical signals that cause atrial fibrillation. A-fib is the most common heart arrhythmia that starts in the two upper chambers of the heart.
nContact’s system is being studied in an ongoing safety and efficacy trial in patients with long-standing persistent atrial fibrillation, according to ClinicalTrials.gov. The company’s media representative could not be reached for an update on its progress.
Formed in June 2005, nContact is one of several companies, including medical device giant Medtronic and Ohio-based AtriCure, trying to improve the treatment of A-fib. Its proposed advantage is that it’s developed a way to treat arrhythmia through a small hole in the abdomen.
nContact’s last big fundraise came in 2010 when investors including Harbert Venture Partners and ZMV Associates pumped $16 million into the company to support clinical trials and product development.
