CathWorks Secures $30 Million Series C Funding to Advance Non-Invasive FFRangio Platform for Coronary Artery Disease Treatment

Recently, VCBeat (WeChat Official Account: vcbeat) learned that CathWorks has completed a $30 million Series C financing round to drive the market entry of its non-invasive FFR platform, the CathWorks FFRangio system.

This round of financing was led by Deerfield Management. Previously, the company completed a $15.8 million Series B financing round led by Triventures and Quark Venture.

CathWorks is an Israeli medical technology company headquartered in Israel, dedicated to providing objective data for decision-making in percutaneous coronary intervention (PCI) and elevating coronary angiography from visual assessment to an FFR-based decision-making tool.

Percutaneous Coronary Intervention (PCI) is a standard treatment for coronary artery disease. Under fluoroscopic guidance using contrast media, physicians permanently implant an expandable metallic stent into the coronary arteries to dilate occluded vessels, thereby maintaining arterial patency and restoring normal blood flow. This technique has advanced rapidly over the past two decades and occupies a pivotal role in the modern management of coronary artery disease. However, the procedure carries significant clinical risks; some patients experience postoperative complications, which in severe cases can lead to conditions such as in-stent thrombosis and coronary artery perforation.

To address the aforementioned challenges, CathWorks collaborated with experts and scholars in the field of cardiovascular medicine to conduct comprehensive, multi-faceted systematic research, ultimately launching the CathWorks FFRangio system. As the first non-invasive device approved by the FDA for PCI assessment, the FFRangio system can be integrated with angiography systems in the catheterization laboratory. It not only mitigates the risks associated with traditional visual assessment but also rapidly and accurately provides physiological measurements across multiple vessels, offering precise, objective intraoperative FFR guidance for PCI. The adoption of this system will enhance diagnostic and treatment efficiency in hospitals and significantly reduce medical costs for patients with coronary artery disease.

It is reported that on December 19 last year, the CathWorks FFRangio system received FDA 510(k) clearance, fully demonstrating that the system is more accurate and efficient than invasive FFR diagnostic results. Jim Corbett, CEO of CathWorks, stated, “The FDA’s approval of the CathWorks FFRangio system marks a significant milestone for interventional cardiologists and the entire healthcare system. Following the completion of this round of financing, we will focus on expanding the system into broader markets to provide more efficient treatment decision-making for PCI and other conditions.”

Deerfield Management is a venture capital firm headquartered in Illinois, USA, that focuses on the healthcare sector and has invested in more than 42 companies to date.

(Compiled by: Feng Yutong)