Ablation catheter system developer closes €18m funding round
MedLumics, a medical device company
developing AblaView, an optically-guided real-time ablation catheter
system for the treatment of Atrial Fibrillation (AF), has closed an €18
million financing round.
MedLumics’ optical catheter displays lesion creation in real-time providing the physician with direct visual confirmation of conduction tissue denaturation.
Kurma Partners joined the round which includes and was initially led by Asabys Partners, along with new investors, VI Partners Swiss Innovation and CDTI Innvierte Economía, and existing investors Andera Partners, Caixa Capital Risc and Innogest Capital II. Having achieved pre-clinical feasibility in 2020, these proceeds will now enable MedLumics to initiate first in-human regulatory clinical studies and automate scalable product manufacturing.
Concurrent with the financing, Medlumics welcomes venture capital investor Rich Ferrari as new chairman of the board of directors. Mr. Ferrari brings to the team his experience in medical device innovation and commercialisation as a successful CEO of two publicly traded medical technology companies and as co-founder and managing director of De Novo Ventures. Current chairman Olivier Litzka of Andera Partners will assume the role of vice chairman.
James Greene, CEO of MedLumics, said: “We are very pleased to have received funding from such a strong investment syndicate and I am delighted to welcome Rich Ferrari as chairman to our board. We are honoured to have attracted someone of his calibre and look forward to benefiting from his impressive experience to support MedLumics as we progress through our development towards market entry. I would like to give heartfelt thanks to Olivier Litzka for his advice and guidance these past years and we are very grateful for his continued support as vice chairman of the board.”
Rich Ferrari, newly appointed chairman, added: “I am very excited to be joining such a competent team and board of directors. The Medlumics technology has the potential to greatly enhance clinical outcomes by providing real time feedback on constant contact of the ablation and visual display of the depth and conductivity of the tissue.”