Lumira Capital co-leads $20m round for medtech business Cardiac Dimensions


news_heartmonitor.lrgLumira Capital has co-led a $20m financing round for heart condition treatment business Cardiac Dimensions.

M H Carnegie & Co also took part in the financing, which also included unnamed institutional investors from Australia, the US and Canada.

The company’s latest device for minimally-invasive therapy, the Carillon system, is designed to treat heart failure patients suffering from FMR, a condition in which blood flow to the body is reduced due to a poorly functioning heart valve.

It said an estimated 70 per cent of the 20 million people worldwide with heart failure suffer from FMR.

Last November North American healthcare and life sciences venture capital firm Lumira sealed a $10m commitment for its second fund from the Government of Canada’s Venture Capital Action Plan (VCAP) initiative.

This investment is the first to close of four recently announced commitments under the VCAP to local venture capital funds.

Lumira Capital II invests in North American companies in the biotherapeutics, medical technology and health and wellness sectors. Other investors in the fund include the Business Development Bank of Canada (BDC), Teralys Capital, Fonds de solidarité FTQ, Northleaf Capital Partners, Fondaction and Merck & Co.

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