In a relatively short amount of time, CardioFocus has managed to achieve a series of milestones that could make any medtech company green with envy. The latest accomplishment for the Marlborough, MA-based company is the completion of a $55 million financing.
CardioFocus' current syndicate of institutional investors took part in the financing, which included senior debt financing from Kennedy Lewis Investment Management.
"This substantial investment will enable broader adoption of the HeartLight System and support a successful commercial launch of the HeartLight X3 System globally," Paul A. LaViolette, executive chairman of CardioFocus, said in a release. "We are committed to continued innovation and are very excited about the potential the HeartLight X3 System has to significantly advance the way AFib is treated."
The HeartLight X3 System is a third-generation technology building upon the advanced features of the HeartLight Endoscopic Ablation System, which performs pulmonary vein isolation (PVI) using laser energy to create lines of scar tissue to block the abnormal electrical pathways that cause AFib.
CardioFocus’ HeartLight X3 System reached a major milestone in March by receiving CE mark.
The company’s success street continued in April, when it announced results from the pivotal confirmatory study of the HeartLight X3 System during the Heart Rhythm Society's 40th Annual Scientific Sessions. Results of the trial, which included 60 patients, demonstrated superior procedural times when compared to the first generation HeartLight System and impressive clinical outcomes.
In the trial, the HeartLight X3 System consistently achieved very rapid PVI, in as few as three minutes for a single vein. The presentation also noted that 99% of the pulmonary veins were isolated with the HeartLight X3 System with fluoroscopy times that were under seven minutes.