Acutus Medical Secures $170 Million Series D Funding to Advance AcQMap 3D Mapping System, Achieving 100% Success Rate in Catheter Ablation Procedures

VCBeat (WeChat ID: vcbeat) has learned that on June 20, 2019, medical technology company Acutus Medical announced the completion of a $170 million Series D financing round. The round was led by new investors 8VC, Opaleye Management, and Pura Vida Investments, together with existing investors OrbiMed, Deerfield Management, Advent Venture Partners, Xeraya Capital, and GE Ventures.

The proceeds from this round of financing will be used to expand the company’s business and bring its products to market.

Acutus Medical, founded in 2011 and headquartered in Carlsbad, California, USA, is a medical technology company dedicated to developing novel therapeutic solutions for cardiac arrhythmias. The company boasts an excellent team comprising medical scientists, biomedical engineers, and other professionals.

Acutus Medical is adopting the 3D mapping system AcQMap to replace traditional voltage-based cardiac activity mapping systems, aiming to improve the success rate of catheter ablation procedures for the treatment of arrhythmias. AcQMap features real-time monitoring of cardiac electrical waves, providing physicians with clear visualization during cardiac ablation procedures. Studies have shown that the use of the AcQMap system has increased the success rate of catheter ablation procedures to 100%.

According to Crunchbase, since its inception, Acutus Medical has completed eight rounds of financing, raising a total of over $300 million. Notably, the company closed a $75 million Series C round in March 2016 and secured $70 million in debt financing in June 2019.

Vince Burgess, CEO of Acutus Medical, stated, “Advanced imaging, personalized therapy, and catheter ablation procedures are critical components of the electrophysiology field. This financing will support our continued delivery of novel innovative technologies to customers, driving the advancement of electrophysiology technology.”

Drew Oetting, Founding Partner at 8VC, stated, “The electrophysiology market is growing rapidly. AcQMap enhances the therapeutic efficiency of cardiac ablation procedures, and we are confident in Acutus Medical’s 3D mapping system.”

8VC is a venture capital firm based in New York, USA, and has participated in 105 investments to date.

Opaleye Management is an investment company headquartered in Boston, Massachusetts, USA.

Pura Vida Investments, established in 2012, is a private equity investment firm headquartered in New York, USA. The firm is dedicated to investing in medical devices, biotechnology, pharmaceuticals, life sciences, and healthcare services companies within the medical sector.

OrbiMed is an investment firm headquartered in New York, USA, managing approximately $5 billion in assets. Established in 1989, OrbiMed’s investment advisory business invests in healthcare companies across all stages of development. OrbiMed manages the Caduceus Private Investments series of venture capital funds and a range of public equity investment funds.

Deerfield is an investment management firm dedicated to advancing the healthcare industry through investing, information gathering, and philanthropy. Founded in 1994, the company primarily invests in publicly traded healthcare companies and currently manages over $8 billion in assets.

Advent Venture Partners, founded in London, UK, in 1981, is a leading European investment firm. The firm is dedicated to investing in life sciences and healthcare technology companies.

Xeraya Capital, headquartered in Malaysia, is a venture capital firm that has completed 11 investments to date.

GE Ventures, established in 2013 and headquartered in Menlo Park, California, USA, is the venture capital arm of GE Healthcare. The firm focuses on investing in companies within the healthcare, software, and energy sectors.

(Compiled by Jiao Yanli)