Conformal Medical Secures $9 Million in Series B Funding to Advance Novel Left Atrial Appendage Closure Device for Stroke Prevention in Atrial Fibrillation Patients

Recently, VCBeat (WeChat Official Account: vcbeat) learned from foreign media reports that U.S. medical device startup Conformal Medical has recently completed a $9 million Series B financing round. The round was led by Catalyst Health Ventures, a venture capital firm focused on the life sciences and healthcare sectors, with participation from existing investors of Conformal Medical.

Conformal Medical, founded in 2016 and headquartered in New Hampshire, USA, is an early-stage medical device company dedicated to developing medical devices for stroke prevention in patients with non-valvular atrial fibrillation.

Atrial Fibrillation (AF) is one of the most common arrhythmias, characterized by disordered atrial activation and ineffective atrial contraction. It is highly prevalent among the elderly. AF can occur in patients with all types of organic heart disease, as well as in those without structural heart abnormalities. With its high incidence and prolonged duration, AF can lead to serious complications, such as heart failure and arterial embolism. Due to the irregular ventricular rhythm, blood is not effectively pumped out of the heart and may pool within the cardiac chambers, leading to thrombus formation, which can subsequently cause thromboembolism and congestive heart failure.

Image from the official website of Catalyst Health Ventures

Another major risk of atrial fibrillation is stroke, with more than 70% of stroke patients dying from the condition. Atrial fibrillation impairs the heart's ability to pump blood into the ventricles, causing blood to pool in the atria and form clots. When a blood clot leaves the heart and becomes lodged in an artery within the brain, a stroke occurs. Statistics indicate that approximately 15% of strokes occur in patients with atrial fibrillation.

More than 5 million people in the United States have atrial fibrillation, which increases their risk of stroke. In response, Conformal Medical is developing a left atrial appendage (LAA) sealing technology to prevent strokes in patients with atrial fibrillation. The LAA is a blind pouch located in the upper chamber of the heart; in patients with atrial fibrillation, thrombi associated with stroke form within this structure. Sealing this pouch eliminates the need for anticoagulant therapy. The device is designed to conform to the unique anatomy of each patient’s LAA and, compared with existing devices, offers easier implantation, requires less imaging guidance, and does not necessitate general anesthesia.

Apart from this round of financing, the company has not disclosed specific details regarding its seed and Series A funding rounds. Following the completion of this financing, Josh Phillips, Executive Partner at Catalyst Health Ventures, will join the board of directors of Conformal Medical.

“This funding will enable us to validate our novel sealing technology in human clinical trials,” said Andy Levine, CEO of Conformal Medical. “We are delighted to have Catalyst on board, which reflects patients’ confidence in us. We will continue to develop technologies for the treatment of atrial fibrillation, a serious medical condition.”

Josh Phillips, Managing Partner at Catalyst Health Ventures, stated, “Conformal Medical’s technology holds promise for delivering significant benefits to a large population of patients with atrial fibrillation.”

Catalyst Health Ventures, founded in 1998 and headquartered in Massachusetts, USA, is a venture capital firm dedicated to investing in the life sciences and healthcare sectors. The firm leverages its expertise and financial capital to originate deals, nurture opportunities, and fully unlock the potential of emerging companies in the healthcare and life sciences markets, with the aim of fundamentally reducing treatment costs and improving patient outcomes.