Cardiac Dimensions, a US-based cardiac surgery device developer backed by pharmaceutical firm Johnson & Johnson and financial services group Mitsubishi UFJ Financial, has raised $17.5m in its series C round.
All the company’s existing shareholders participated in the round, which included Aperture Venture Partners, Arboretum Ventures, Hostplus, Life Sciences Partners, Lumira Ventures, and MH Carnegie.
The company closed a $39m series B round in April 2018 featuring Arboretum Ventures, Lumira Capital, Hostplus, LSP, Aperture Venture Partners, MH Carnegie and venture debt from Oxford Finance.
Cardiac Dimensions has now raised a total of $172.5m in debt and equity financing according to press releases and securities filings.
The company secured $35.5m in a 2007 round co-led by corporate venturing unit Johnson & Johnson Development Corp and Lumira Capital and backed by Mitsubishi UFJ unit Mitsubishi UFJ Capital, West River Capital, Montgomery and Company, Frazier Healthcare Partners, InterWest Partners, MPM Capital and Polaris Venture Partners.
The C round will be used to accelerate commercial sales of Cardiac Dimensions’ Carillon Mitral Contour System in Europe and allow for expansion into other geographies, such as Australia.
An estimated 26 million people suffer from heart failure and, of those, approximately 70% have functional mitral regurgitation (FMR) due to the mitral valve not closing tightly causing blood to leak backwards.
