AtaCor Medical announced today that is has completed a $25M Series B financing. The financing syndicate, led by a corporate partner, includes existing investors Broadview Ventures and aMoon Fund as well as new investors Hatteras Venture Partners, Catalyst Health Ventures (CHV) and Longview Ventures, a Broadview affiliate.
AtaCor Medical notes the investment supports efforts to reach US and EU regulatory clearances for AtaCor’s novel extracardiac temporary pacing system as well as development efforts for additional extracardiac therapies.
“It is a great vote of confidence to close this $25M financing round and continue AtaCor’s dedicated work to develop our novel pacing therapy,” said Rick Sanghera, AtaCor’s CEO. “We appreciate the support of the investor syndicate and look forward to finishing development and building further clinical evidence to bring our technology to patients.”
AtaCor is developing novel cardiac pacing therapies that do not require any hardware to be placed inside or onto a patient’s heart. The technology has already completed early clinical evaluation and will offer an important alternative treatment option for patients requiring bradycardia pacing support.
“AtaCor’s technology promises to be a step change in cardiac pacing. With early clinical data in hand, the company is now poised to develop the technology through regulatory approval, and we are thrilled to be supporting that work,” said Maria Berkman, of Broadview Ventures and Longview Ventures.
Darshana Zaveri, Managing Partner of Catalyst Health Ventures, who will be joining AtaCor’s Board of Directors, added that, “AtaCor’s technology has the potential to bring tremendous benefit to the large population of patients who need cardiac pacing and fits very well with CHV’s mission to invest in breakthrough, therapeutic medical devices. We are excited to partner with this exceptional team and syndicate to support the next phase of the company’s growth.”
“Hatteras is thrilled to support the AtaCor team in the development of this disruptive extracardiac pacing technology. We have been impressed by the work done to-date and are eager to be a part of this journey among such great partners,” said Jeff Terrell, Partner at Hatteras Venture Partners, who also will be joining AtaCor’s Board of Directors.
Existing investor Roy Wiesner, Managing Director at aMoon Fund, added that, “AtaCor is pioneering the transformation of cardiac pacing – both in terms of safety and patient comfort. We are excited to continue and strengthen our partnership with the company and look forward to working with the management team and the new funding partners to bring AtaCor’s vision to market.”