Marlborough, MA-based CardioFocus has landed $30.6 million in private financing to support development of its CardioFocus Endoscopic Ablation System. Atrial fibrillation causes irregular heartbeats that can eventually lead to stroke. As Xconomy notes, the company's minimally-invasive system basically burns away the tissue that's causing atrial fibrillation.
CardioFocus' investors include first-timers Fletcher Spaght Ventures, Manatuck Hill Partners and First Alliance & Capital Invest, as well as a laundry list of previous investors. The financing will be used to launch the ablation system in Europe, where it is already approved, and start a pivotal trial in the U.S in the first half of this year. CardioFocus continues work to improve the accuracy and effectiveness of its ablation system, notes Xconomy.
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