Both existing and new investors participated in the round. The proceeds allow the company to begin multi-center clinical studies and complete its FDA approval process for the CathVision Cube system and associated software algorithms.
“We are excited to finalise the testing needed for FDA clearance and CE marking, and we expect physicians to acquire clinical data from our system later this year” says CEO Mads Emil Matthiesen. “Our organisation has grown rapidly with recent addition of a dedicated software team that allows us to continue to focus on enabling the EP cardiologists to succeed in cardiac ablation for a number of different cardiac arrythmias”.
“This oversubscribed and significant financing round took place in a challenging funding environment for medtech companies and it is a clear testimony to the progress we have made over the years in honing our unique technology position in cardiac ablation” says CFO Rune Ørndrup.
“CathVision is relentlessly delivering on its strategic goal set as the company continues to evolve from a small startup company to an established cardiology innovator with a strong management team, inhouse product development, clinical operations, and commercialisation. We are thankful for the investor confidence shown us in this round” says Chairman Søren Thestrup-Nielsen.
Vaekstfonden invested in Cathvision already in 2017 and participates in the new round as well:
“CathVision has a strong product and works in one of the fastest growing segments of medical technology. Furthermore, CathVision has worked patiently and persistently with its technology for a number of years, and we have been following and continually invested in the company. We strongly believe that Cathvision can become an important player within the industry and that is the reason why we participate in this round,” says Tonni Bülow-Nielsen, Managing Partner in Vaekstfonden’s department of direct investments VF Venture.
Headquartered in Copenhagen, Denmark with its US business office in Minnesota USA, CathVision is developing and selling medical devices to treat cardiac arrhythmias. The solutions are centered on an innovative electrophysiology (EP) system to provide exceptional EP signals for identification and characterisation of arrhythmias.
— Press release
Main image credits: CathVision ApS
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