Medical Devices treating AFib Funding in the last 12 months was USD 300m+: Retrospective Analysis of the sector from March 2023 until March 2024
Did you know that the number of patients with atrial fibrillation (AFib) in the world is estimated to be 37.574 million, or 0.51% of the world's population?
This number is expected to increase to 60.7 million by 2030.
There are an estimated 17.9 million people with atrial fibrillation (AFib) in Europe and 5.5 million people with AFib in the United States. This means that about 3.4% of the European population and 1.3% of the US population have AFib.
What happened in terms of funding between 2023 and now?
Pulsed Field Ablation Innovator Argá Medtech Announces €54 Million Oversubscribed Series B Capital Raise in February 2024.
Argá Medtech, a private company developing Coherent Sine-Burst Electroporation™ (CSE™), a next-generation cardiac ablation system for treating cardiac arrhythmias, including atrial fibrillation (AF), today announced the closure of a €54M oversubscribed Series B funding. The round was led by the existing investors, Advent Life Sciences (UK) and Earlybird Health (Germany), as well as new investor Gilde Healthcare (the Netherlands) and an undisclosed strategic investor. The financing enables Argá Medtech to advance the development of its innovative CSE™ Pulsed Field Ablation (PFA) system for treating AF through the execution of an IDE study in the US and a CE Mark study in the EU. With the funding, the company will also expand its US offices in San Diego, CA, in anticipation of its US clinical activities. (https://www.globenewswire.com/news-release/2024/02/27/2836180/0/en/Pulsed-Field-Ablation-Innovator-Arg%C3%A1-Medtech-Announces-54-Million-Oversubscribed-Series-B-Capital-Raise.html)
Vektor Medical Secures $16 Million Series A Funding in February 2024
A pioneer in non-invasive, AI-based arrhythmia analysis technology, today announced a $16 million Series A investment co-led by Solas BioVentures and TVM Capital Life Science. This funding underscores investor confidence in Vektor’s vision and ability to successfully execute its mission to revolutionize arrhythmia care.
Funding will support the commercialization of vMap®, Vektor’s AI-based arrhythmia analysis tool, which is transforming how EPs approach ablation procedures. To bolster this expansion, Vektor will increase clinical support and drive additional clinical studies to showcase the technology’s impact and inform future innovation as well as continue efforts to secure reimbursement.
CardioSignal Raises $10 Million in Series A as the First Technology to Detect Major Heart Diseases without Specialized Medical Hardware in January 2024.
CardioSignal today announced the closing of $10 million in Series A funding, led by DigiTx Partners, with participation from Sandwater and existing investor Maki.vc. David J. Kim, M.D., managing director of DigiTx, will be joining the board. To date, CardioSignal has raised $23 million. The Series A investment will fund additional clinical validation of CardioSignal’s breakthrough technology and the expansion of its commercial efforts.
CardioSignal’s technology produces digital biomarkers validated in clinical studies for Atrial fibrillation (A-fib) and Heart failure, with additional development ongoing for Aortic stenosis, Coronary artery disease, and Pulmonary artery hypertension. The CardioSignal application is already available in 15 countries as a class IIa medical device for detecting signs of Atrial fibrillation.
Ajax Health Establishes Cortex, a Comprehensive AFib Ablation Technology Company, with $90 Million Investment Led by KKR and Hellman & Friedman in December 2023.
Ajax Health announced today the formation and funding of Cortex, a medical technology company developing an integrated mapping and ablation solution suite for the treatment of atrial fibrillation (AFib), the most common heart rhythm disorder, affecting more than 30 million patients worldwide. Cortex has raised $90 million in funding commitments led by KKR and Hellman & Friedman (H&F) with participation by other investors including AI Life Sciences, an affiliate of Access Industries.
Field Medical collects $14M to develop 'next generation' pulsed field ablation tech in September 2023.
Just because pulsed field ablation therapy has yet to make its mark in the U.S. by clearing the FDA, that doesn’t mean there’s any reason to wait on developing version 2.0.
Field Medical is already working to redefine the nascent approach, with what it describes as the “next generation of pulsed electric field ablation technology.” The catheter-based procedure for atrial fibrillation aims to spare certain surrounding tissues from the damage that can come with traditional thermal ablation.
QT Medical® Announces Completion of Series B Financing of $12 Million in September 2023.
QT Medical, Inc., a medtech company focused on cardiac care technology, announced today that it raised $12 million in Series B financing. This funding will accelerate QT Medical's market penetration, global expansion, product pipeline development, and long-term strategic planning.
QT Medical aims to provide improved cardiac devices and services to revolutionize the care of patients with heart disease. Its flagship product, the Personal Cardiac Assistant (PCA 500)™, is the only hospital-grade, resting 12-lead ECG device cleared by the FDA and CE marked for both professional and patient use.
Append Medical Raises $4.35M in Initial Closing of Extended Series A Round in July 2023.
Append's Appligator™ is in development to be a next generation, left atrial appendage (LAA) Elimination System designed to completely close the LAA without metal implants or sealings, eliminate leaking, and as a result help reduce the risk of stroke for Atrial Fibrillation (AF) patients, a major clinical issue and a rapidly growing multi-billion dollar market.
CathVision Secures $9 Million in Funding to Accelerate Adoption of ECGenius System & CARDIALYTICS AI-Suite in July.
The financing will help advance commercial operations driving adoption of the ECGenius™ System, the company's innovative EP recording technology, and support the continued development of artificial intelligence-powered analytic modules to provide electrophysiologists with unprecedented levels of automated analysis during cardiac ablation procedures.
S4 Medical Corp. has raised $5 million in July 2023 to take its medical device through regulatory approvals and into production, likely by mid-2024.
The investment, which was led by an undisclosed "multinational strategic corporation," is part of S4 Medical's Series B funding round and includes an option to acquire the company if milestones are met, CEO Bill Fuller told the Cleveland Business Journal.
Conformal Medical Inc., developer of a left atrial appendage occlusion system, announced a successful Series D funding round, raising a total of $35 million in June 2023. The round was led by SPRIG Equity with participation from all major Series C investors.
LEFT ATRIAL APPENDAGE OCCLUSION (LAAO)LAAO is emerging as an important minimally invasive alternative to blood thinners for reducing the risk of stroke in patients with non-valvular Afib without increased bleeding risk.
Pulse Biosciences enters $65M private placement for pulsed-field ablation tech in May 2023.
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