VytronUS, a medical device and New Enterprise Associates startup company, landed $49 million in Series C financing that it will use to continue studies and seek regulatory approval in Europe and the U.S. for its low-intensity collimated ultrasound designed to image and treat cardiac arrhythmias.
NEA, Apple Tree Partners and BioStar Ventures participated in the latest fund raising.
VytronUS is working on an integrated imaging and ablation platform for cardiac electrophysiologists that uses ultrasound energy to create high resolution images of the interior of the heart for procedure planning that would let physicians draw a desired treatment pattern on the image at a workstation.
“We have developed a potentially game-changing technology platform, underscored by our successful clinical results to date," John Pavlidis, CEO of VytronUS, said in a statement. "We greatly appreciate the commitment of our distinguished syndicate of investors and will use this infusion of capital to execute the multi-center EU and U.S. clinical validation of our technology.”
Abbott ($ABT) is also a VytronUS backer. Back in 2014, the pharma company began efforts to resuscitate its ailing medical device business by investing in a trio of med tech startups focused on cardiovascular catheterization.
At that time it bought electrophysiology startup Topera for $250 million plus undisclosed milestones, and secured the right to purchase Advanced Cardiac Therapeutics and its novel ablation catheter. Abbott Ventures, the pharma’s investment arm, also participated in a venture round for VytronUS. All three startups are backed by NEA.
Last month, NEA led a $44 million Series B round for startup Annexon Biosciences, which is conducting neurodegenerative research.
- here’s the release
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