Dublin, OH-based Cardiox has raised $8 million in Series C financing, which will be used to support U.S. and European commercialization and manufacturing activities, as well as to hire additional staff, according to MedCity News. The company has developed and patented a minimally invasive system to measure and monitor cardiac output, total circulating blood volume and endogenous blood ammonia levels.
According to Early Stage Partners, which led the earlier Series B round, Cardiox is commercializing a non-invasive method for detecting the presence of a right-to-left cardiac shunt, known as Patent Foramen Ovale (PFO), to allow for closure before the occurrence of a stroke.
Company CEO Larry Heaton said there could be a wider market for the test to include indications like migraines and sleep apnea. Prior to this current round, CardiOx had raised about $5.5 million since opening for business in 2006, MedCity News notes.