AtaCor Medical announced it completed a $28 million Series C financing round to support its cardiac pacing and defibrillator technology.
Arboretum Ventures led the financing round. Existing investors Longview Ventures, Hatteras Venture Partners, Catalyst Health Ventures and BayMed Venture Partners participated, too.
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San Clemente, California-based AtaCor plans to use the funds to support an FDA submission for its extravascular (EV) temporary pacing lead system. It also intends to complete a pilot study for the third generation of its EV-ICD (implantable cardiac defibrillator) lead system.
AtaCor’s proprietary EV cardiac pacing and defibrillation lead systems provide critical cardiac rhythm management (CRM) therapy. They offer benefits without requiring the placement of any hardware inside the patient’s heart.
Temporary pacing lead placement eliminates the need for medical imaging, leading to faster, less invasive therapy delivery. Additionally, the AtaCor EV-ICD lead designs use existing, commercially available ICD technologies. This provides flexibility for physicians when it comes to device selection.
“We welcome the Arboretum team to AtaCor and look forward to having Jan’s expertise and guidance in the boardroom,” said Rick Sanghera, CEO of AtaCor Medical. “As we plan for our upcoming clinical and regulatory milestones, this investment supports efforts that will bring AtaCor’s novel products to patients.”
