CVRx, a medical device company which has developed Barostim neo, a system to treat hypertension and heart failure, has raised an additional $12m under its series F financing from new investors including DaVita HealthCare Partners, a US-based provider of kidney care and healthcare, and Spain-based venture capital firm Ysios Capital.
The funding extension brings the total raised in the series F financing to $42m. Previously, in July 2013, CVRx completed a $29.6m series F financing led by venture capital firm New Enterprise Associates and Johnson & Johnson Development Corporation, the venture capital subsidiary of healthcare company Johnson & Johnson. Other participants in this round included existing, financial investors BBT Fund L.P. and SightLine Partners.
CVRx plans to use the funding to advance its clinical trials and expanding its international commercial activities.
Josep Sanfeliu, General Partner of Ysios Capital, who has joined the CVRx board, said: “CVRx is recognized as a strong, innovative leader. I am excited to join the Board of Directors as a European active medtech investor and look forward to working with the CVRx team to build upon their clinical and commercial success.”
CVRx was founded in 2001.