CardioMEMS raises $37.9M in financing

Atlanta-based CardioMEMS, which is developing wireless sensing and communication technology for the human body, has raised $37.9 million in financing that will allow the company to complete its CHAMPION clinical trial. The CHAMPION trial is evaluating the safety and effectiveness of CardioMEMS' heart failure pressure measurement system in 550 patients in the U.S. 

Full patient enrollment in the trial was completed in 2009, and CardioMEMS anticipates obtaining the results of its study this summer.

The CardioMEMS wireless HF sensor is a miniature device that is implanted into the patient's pulmonary artery using a simple, catheter-based procedure. The pulmonary artery pressure is then measured and displayed using the CardioMEMS proprietary electronic monitoring system.  Following the procedure, patients perform wireless measurements of their pulmonary artery pressure from home. The pressure data are immediately transmitted to a secure database and are available for review by the implanting physician on the CardioMEMS proprietary website. 

"We are pleased with the continued support of Arcapita Ventures and our other existing investors," says Jay Yadav, founder and CEO of CardioMEMS. "We look forward to the successful completion in the coming months of the CHAMPION trial and the continuation of the FDA approval process for our CHAMPION heart failure pressure measurement system." 

- see the CardioMEMS release

ALSO: Astute Medical, a developer of novel, biomarker-based medical diagnostics, today announced completion of a $26.5 million series B financing co-led by Domain Associates and Delphi Ventures. Astute will use the funding to advance research and development aimed at the identification and validation of protein biomarkers with the goal of commercializing high potential diagnostic products. Release

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