AtaCor Medical Secures $25M Financing to Continue Extracardiac Pacing Development
Full Post from Businesswire
SAN CLEMENTE, Calif.--(BUSINESS WIRE)--AtaCor Medical, Inc. announced today that is has completed a $25M Series B financing. The financing syndicate, led by a corporate partner, includes existing investors Broadview Ventures and aMoon Fund as well as new investors Hatteras Venture Partners, Catalyst Health Ventures (CHV) and Longview Ventures, a Broadview affiliate. The investment supports efforts to reach US and EU regulatory clearances for AtaCor’s novel extracardiac temporary pacing system as well as development efforts for additional 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,” said 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 developing novel cardiac pacing therapies that do not require any hardware to be placed inside or onto a patient’s heart. The technology has already completed early clinical evaluation and will offer an important alternative treatment option for patients requiring bradycardia pacing support.
“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,” said Maria Berkman, of Broadview Ventures and Longview Ventures.
Read the full press release here.
Rick Sanghera, Atacor CEO, says...
"[I have] Nothing but great things to say about the program [LaunchPad]. Octane really helped to hone our initial pitch deck and focus on the important bullets that catch the eyes of the venture community. Winning the MTIF 2018 Award was a great step in validating the AtaCor story and we continue to work with partners that we met through the Octane network… in fact Clay Wilemon and the team Brado just helped us launch our new website and animation over this past weekend."