Acutus Medical, a US-based medical device company which is developing a cardiac catheter for the treatment of irregular heart rhythms, has completed a $28m series B funding round led by new investor, healthcare-dedicated investment firm OrbiMed Advisors, together with GE Ventures, the venture capital investment arm of US-based conglomerate General Electric (GE). Existing investors, venture capital firms Index Ventures and Advent Life Sciences, also participated in the round.
The capital raised will support product development, clinical trials, regulatory approvals and early commercialization.
Randy Werneth, chief executive officer of Acutus Medical, said: “With the support of OrbiMed and GE Ventures alongside Index Ventures and Advent Ventures, we’re able to expand product development of the first clinical evidence-based cardiac mapping / imaging solution that identifies the issues causing irregular heart rhythms. Along with their industry expertise and global network, GE Ventures shares our mutual goal of providing high-quality, more affordable and minimally invasive patient solutions.”
Noah Lewis, managing director, GE Ventures-Healthcare, said: “Acutus Medical’s innovative approach to the treatment of complex arrhythmias, based on both medical evidence and scientific data, could drive down costs and positively disrupt the market.”
Vince Burgess, Acutus Medical’s board member and venture partner at OrbiMed Advisors, said: “The R&D team at Acutus Medical is exceptional, and we are extremely optimistic about the prospects for this new device to improve patient care. The addition of GE to the investor group is particularly encouraging – given their market and technical expertise in the electrophysiology space.”
Acutus Medical was established in 2011.