On the heels of acquiring a catheter hardware developer and announcing a slew of new partnerships, Acutus Medical has now secured $170 million to move further into heart arrhythmia treatment delivery and monitoring.
The financing includes a $100 million series D raise and $70 million in credit provided by Deerfield Management and OrbiMed’s Credit and Royalties Fund. The proceeds are expected to boost the company’s global business development and commercialization of its vascular access products.
The venture capital round, meanwhile, included new investors 8VC, Opaleye Management, Pura Vida Investments and others, alongside Acutus’ returning backers Advent Venture Partners, Xeraya Capital and GE Ventures, plus OrbiMed and Deerfield.
"Advanced imaging, individualized therapy and increased procedural efficiency are needed components to progress the electrophysiology field,” Acutus CEO Vince Burgess said in a statement—referring to the former Fierce 15 winner’s recent acquisition of Rhythm Xience, manufacturer of a family of FDA-cleared catheter introducer devices, as the company sets a goal of addressing the entire patient care continuum.
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Previously, Acutus received an FDA clearance for its AcQMap cardiac mapping system for monitoring an atrial fibrillation ablation treatment in real time.
The company also announced partnerships with Peerbridge, maker of a seven-day wearable electrocardiogram (ECG), as well as with Cardiac Designs, which will focus on long-term remote patient monitoring with Acutus’ QCheck handheld ECG and mobile app.
Additionally, its team up with MedFact will allow Acutus to distribute its robotically enabled radiofrequency ablation catheter alongside its magnetic and ultrasound-based navigation and mapping systems.
“Cardiac ablation is a rapidly growing market and treatment efficiency needs to improve,” said Drew Oetting, founding partner at 8VC. “Many people, including dear friends of ours, have faced these procedures and Acutus' innovative and effective tools look to add even more safety.”