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Index Ventures leads $1m investment in Acutus Medical

8 Aug 2011

Growth investor Index Ventures has led a $1m investment in Acutus Medical, a US start-up which develops breakthrough electrophysiological medical devices.

The financing was completed through the firm’s IV5 fund, which focuses on early stage companies, and marks Index’s fourth investment in medical technology.

Based in San Diego, Acutus has pioneered an electrophysiological mapping technology to improve the treatment of cardiac arrhythmias, and will use the financing to develop prototypes of the device.

Currently, only a small minority of between three and five per cent of patients affected by cardiac arrhythmias are treated due to a lack of technologies and training.

“We were attracted Acutus’s compelling team, the $1bn, 20 per cent CAGR market involved and addressing what we believe to be the principal bottleneck to more widespread uptake of the ablation procedure,” said Kevin Johnson, a partner at Index Ventures

“This investment underlines our commitment to the medical device space, an area with growth potential,” he added.

Regarding the deal pipeline for the next few months, Johnson added, “Composition is largely as it currently is in the portfolio, principally asset-centric drug development companies plus a smaller 20 per cent proportion on the medical devices sector, which we’re continuing to look at.

“We’re also involved in a number of sectors including antibodies, metabolic disorders, respiratory, small molecule drugs and vaccines.”

In June, Index and London-based investment firm Spark Ventures took a £3.1m cash receipt after selling half of its stake in Mind Candy, a creator of social networking game Moshi Monsters, banking a 15 times return on its investment.

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