US-based electrophysiology technology developer Acutus Medical completed a $75m series C round yesterday that included GE Ventures, the corporate venturing arm of industrial manufacturer General Electric.
The corporate invested alongside Deerfield Management Company, Xeraya Capital, OrbiMed, Advent Life Sciences and an undisclosed strategic investor.
Acutus is developing technology that would enable electrophysiologists to access a 3D, high-definition view of a patient’s heart chamber and its electrical activity in real time, helping them to treat arrhythmia.
The funding will support product development, the growth of the company’s clinical testing activities and the expansion of its sales force as Acutus gets ready to commercialise its AcQMap technology in Europe and the US.
Randy Werneth, president and CEO of Acutus Medical, said: “The rapid pace of progress in the past few years has brought Acutus from an early stage startup to a company on the verge of a commercial launch.
“That progress has energised our existing syndicate of top-tier investors and financial partners, while attracting the participation of new, world-class investors to participate in the next critical stages of the company.
“Their support and shared vision for the company are essential for us to complete our regulatory and clinical milestones in preparation for commercialisation.”
Acutus has now raised $135m in total, having received $28m from GE Ventures, OrbiMed, Advent and Index in 2013.