SentreHeart locks down $35M in Series D round for atrial fibrillation device

(SentreHeart)

SentreHeart brought in $35 million in Series D financing to wrap up a critical study of its catheter-based nonimplant left atrial appendage (LAA) closure device in patients with atrial fibrillation.

Deerfield Management led the round, and existing investors including U.S. Venture Partners, Prospect Ventures, Vivo Capital and Decheng Capital also pitched in funds.

Redwood City, CA-based SentreHeart plans to use the cash to finish a clinical trial for its LARIAT device. The randomized, pivotal trial, dubbed aMAZE, looks at how well LARIAT works with ablation to close the left atrial appendage in patients with atrial fibrillation.

“Our objective is to address improved treatment strategies for AFib of which the LAA plays a critical role in the restoration and maintenance of normal sinus rhythm, as well as, protection against thromboembolism. The aMAZE Trial is key to fulfilling our commitment to developing clinical evidence with potential to significantly improve the lives of patients with atrial fibrillation,” SentreHeart CEO Russ Seiber said in a statement.

SentreHeart is no stranger to fundraising. In 2012, the company reeled in $26 million in Series C financing to expand its commercial launch for LARIAT. SentreHeart’s device has 510(k) clearance in the U.S. and a CE mark in Europe.

Investors seem confident that LARIAT can deliver. Deerfield is “very pleased to support SentreHeart and the landmark aMAZE trial,” Ted Huber, a partner at the firm, said in the statement. Huber is joining the company’s board as part of the recent round.

“The LARIAT technology addresses the clinical needs and requirements for LAA closure in AFib patients with advantages unmatched by other closure options. The technology developed by SentreHEART is creating a new path to improved outcomes in the treatment of AFib, as well as redefining the clinical role of LAA closure,” Huber said.