Cardionomic, a US-based neuromodulation device developer backed by healthcare provider Cleveland Clinic and medical device producer Greatbatch Medical, has received $9m in funding from undisclosed investors according to a securities filing.
The capital was supplied as part of a round with a $9.6m target, according to the filing. The company had previously raised $20m in a 2015 series A round featuring Cleveland Clinic, Greatbatch Medical, venture capital firm New Enterprise Associates and undisclosed other investors.
Cardionomic is developing a device that will treat acute decompensated heart failure, a complication in heart failure patients where uncirculated fluid coalesces in organs such as the lungs, potentially causing breathing difficulties.
The technology will work by directly stimulating nerves associated with cardiac activity to tackle causes of the disorder rather than alleviating its symptoms. Cardionomic was spun out from Denali Medical II, a medical device incubator backed by New Enterprise Associates.