Devices & Diagnostics

Catheter maker CardioFocus nets nearly $14M in funding round

CardioFocus Inc. pulled in nearly $14 million in a hoped-for $16 million funding round, according to a regulatory filing. The Marlborough, Mass.-based company is developing a visually guided balloon catheter that uses a rotating laser to ablate the tissue surrounding the pulmonary artery’s entrance into the heart. The technology is intended to reduce atrial fibrillation.

Marlborough, Mass.-based catheter maker CardioFocus Inc. nets $13.7 million out of a possible $15.7 million round.

CardioFocus Inc. pulled in nearly $14 million in a hoped-for $16 million funding round, according to a regulatory filing.

The Marlborough, Mass.-based company is developing a visually guided balloon catheter that uses a rotating laser to ablate the tissue surrounding the pulmonary artery’s entrance into the heart. The technology is intended to reduce atrial fibrillation.

CardioFocus counts KBL Ventures, Oxford Biosciences Partners, SV Life Sciences Advisors and H.I.G. Ventures as investors. The company raised $6 million in a debt offering in 2009 and another $5 million in an April 2010 offering of equity, debt, options and warrants, according to regulatory filings.

The company won CE Mark approval in the European Union last year for its atrial ablation device, which is in clinical trials in the U.S. and saw its first use in the trial last September.

The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.

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