A trio of venture capital firms have taken part in a $34m Series D funding round for DC Devices, which makes equipment designed to help treat heart failure.
Third Rock Ventures, General Catalyst Partners and Lumira Capital all took part in the round, which was led by Accelmed.
The company’s minimally invasive InterAtrial Shunt Device is designed to help relieve pressure in the left atrium chamber of the heart without the need for open-heart surgery.
DC believes the treatment of diastolic heart failure is a $5bn global market opportunity, while heart failure is already the biggest expense in the US Medicare budget.
George Fazio, president and CEO of DC Devices, said, “Patients who suffer from diastolic heart failure have no effective treatment options and have a poor survival rate.
“With the support of our investors and the guidance of our clinical advisors, we are now one step closer to bringing a potentially transformative new therapy to heart failure patients around the world.”
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