Advent Life Sciences has invested $2.2m in Acutus Medical, a medical technology company based in San Diego and Zurich, as part of a Series A of $5.4m which includes previously announced participation by Index Ventures and the company founders.
Acutus is developing an electrophysiological mapping system to optimise the treatment of cardiac arrhythmias. It said it will use the initial funding to develop prototypes of its novel system.
Shahzad Malik, general partner at Advent Life Sciences and new board member at Acutus Medical, said, “We are delighted to invest in Acutus Medical and this investment underlines our commitment to investing in first-in-class and best-in-class life sciences opportunities. The treatment of atrial fibrillation using medical devices is an area with substantial growth potential and we believe Acutus has the ability to significantly expand the market while improving outcomes based on more accurate electrophysiological mapping. ”
With this investment, Acutus Medical also announced it has recruited Graydon Beatty as its chief technology officer. He was previously an inventor of the EnSite Technology and founder of Endocardial Solutions, incorporated in 1992.
Advent Life Sciences is the dedicated Life Sciences Fund at Advent Venture Partners, one of Europe’s best established growth and venture capital firms. Advent Life Sciences invests predominantly in early-stage and growth equity life sciences companies in the UK, Europe and the US. It will back companies that have a first- or best-in-class approach in a range of sectors within the life sciences, including new drug discovery, enabling technologies, med-tech and diagnostics.
The Advent Life Sciences team is a leader in European life sciences venture capital. Its investments include therapeutic DNA vaccine company PowderMed, obesity treatment company Thiakis, drug discovery company Respivert, pharmaceutical business EUSA Pharma and Algeta, an oncology company developing treatments for bone metastases and disseminated tumours.
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