AAA Apama climbs to $19.5m

Apama climbs to $19.5m

US-based medical device developer Apama Medical has closed a $13m series C round featuring Ascencion Ventures, the corporate venturing arm of healthcare provider Ascension Health.

Existing investors including Onset Ventures, Incept and Medvance Incubator Partners took part in the round alongside various angel investors. Silicon Valley Bank provided a debt facility of up to $6.5m, bringing the total amount secured to $19.5m.

Founded in 2009, Apama is working on a catheter ablation system for the atrial fibrillation (AF) market. Some 12.9 million patients suffer from AF worldwide, making it the most common type of heart rhythm abnormality.

Apama initiated a clinical study earlier this year and so far 18 patients have been treated with its product at four international sites. It did not disclose how the proceeds from the financing will be used.

A graduate from medical technology incubator Shifamed in Silicon Valley, Apama raised $17.5m in a January 2015 series B round backed by Ascension, Onset and Incept.

The company had already received $3.2m from Broadview Ventures in a 2013 series A-1 round and $1.1m in a 2010 seed round backed by angel investors.

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