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OrbiMed, GE Ventures help pump $28m into heart disorder business Acutus Medical

21 Aug 2013

heart_lrgOrbiMed Advisors and GE Ventures have led a bumper $28m Series B financing round for heart-focused medical device maker Acutus Medical.

Previous backers Advent Life Sciences and Index Ventures, which funded the company’s $5.4m Series A round in January last year, also re-invested in the business.

Acutus said the new capital would go towards product development, clinical trials, regulatory approvals and early commercialisation.

The company is currently developing a real-time 3D heart imaging and mapping system to help the treatment of rhythm disorders within the organ.

OrbiMed venture partner Vince Burgess, who becomes a member of Acutus Medical’s board said, “The R&D team at Acutus Medical is exceptional, and we are extremely optimistic about the prospects for this new device to improve patient care.

“The addition of GE to the investor group is particularly encouraging – given their market and technical expertise in the electrophysiology space.”

Last month German medical device company JenaValve Technology raised $62.5m in a Series C round led by Belgian private equity firm Gimv alongside new investors including Beijing-based Legend Capital and healthcare-focused Omega Funds.

The company develops, manufactures and markets transcatheter aortic valve implantation systems for the treatment of aortic valve disease.

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