Argá Medtech today announced it closed a €54 million oversubscribed Series B funding round to support its pulsed field ablation technology.
The Lausanne, Switzerland-based company develops the Coherent Sine-Burst Electroporation pulsed field ablation system for treating cardiac arrhythmias, including atrial fibrillation. Argá’s latest financing will allow the company to advance the development of its CSE system through an investigational device exemption study in the U.S. and a CE mark study in the EU. The company also plans to expand its U.S. offices in San Diego in anticipation of its clinical activities in the U.S.
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The funding round was led by the existing investors, Advent Life Sciences and Earlybird Health, and new investor Gilde Healthcare and an undisclosed strategic investor.
Argá Medtech’s CSE ablation system helps electrophysiologists treat any region in the heart safely and efficiently in a single, multi-configurable catheter while also titrating lesion depths according to the location within the heart.
The system uses a sinusoidal/sine wave, whereas square wave energy sources typically power other PFA platforms. According to the company, the method allows physicians to configure the energy delivery and titrate the depth to the location in the heart. The waveform is delivered through an all-in-one catheter that can be shaped to create circular, linear or focal ablation lesions, eliminating the need to perform catheter exchanges to achieve the desired lesion set.
“We are pleased to secure the support of such marquee investors who believe that Argá Medtech will revolutionize the atrial fibrillation ablation field,” CEO David Neale said in a news release. “This financing enables us to advance toward our goal of validating the CSE PFA system in Europe and the US as we work to deliver a safe, fast, and effective treatment to millions of people affected by cardiac rhythm disorders and atrial fibrillation. We are proud of our accomplishments to date, including conducting a 48-patient first-in-human study in Europe, which demonstrated the high performance of our platform in treating atrial fibrillation.”
