AtaCor Medical's $75M Financing to Propel Heart Device Study

Funding to Advance Innovative Heart Technology

AtaCor Medical's Atala™ lead is designed to deliver reliable sensing, antitachycardia pacing, and shock therapies without invasive procedures

AtaCor Medical, Inc., a medical device innovator focusing on cardiac rhythm management, has successfully secured $75 million in financing. These funds are directed towards a crucial U.S. FDA Pivotal Study to evaluate the company's pioneering extravascular implantable cardioverter-defibrillator (EV-ICD) system, aimed at treating life-threatening ventricular tachyarrhythmias.

Revolutionizing Cardiac Management

Rick Sanghera, the Chief Executive Officer of AtaCor Medical, expressed the pressing need for extravascular ICD systems that streamline implantation while providing comprehensive tachyarrhythmia therapies with a compact pulse generator. "AtaCor is stepping up to fill this demand. We are thrilled to conclude this financing round and are eager to start our pivotal trial in the near future," he stated.

Details on the EV-ICD System

The EV-ICD system from AtaCor includes the Atala™ lead and an accompanying implantable pulse generator. The Atala™ lead is implanted through a small incision in the left parasternal area, utilizing the rib space for electrode placement against the pericardium, outside the heart and blood vessels. This design allows the pulse generator to be positioned in either a lateral or pectoral subcutaneous pocket, offering a fresh approach to the EV-ICD systems.

Positive Outlook for Patients

Maria Berkman, chair of the AtaCor Board of Directors, noted, "Our team is dedicated to crafting a significant solution that supports patient health while safeguarding heart integrity for potential future treatments. The Board is excited about this capital boost, which will assist in advancing this vital technology closer to patient care." The AtaCor team remains focused on innovation, ensuring that their technology not only addresses current needs but also considers future implications for patients.

Upcoming Trials and Studies

AtaCor has successfully completed enrollment in its ASCEND EV Pilot Study, with preliminary results ready for presentation at the upcoming Asia Pacific Heart Rhythm Society (APHRS) meeting occurring in a prominent international location. Building upon these results, the organization plans to initiate the ALARION EV Pivotal Study in the upcoming years, aiming to evaluate the safety and efficacy of the EV-ICD system while supporting regulatory submissions globally.

Commitment to Innovation

The Atala™ Lead System under development is currently designated exclusively for investigational use and remains unapproved for commercial distribution. AtaCor Medical is on a mission to revolutionize cardiac pacing and defibrillation through their proprietary EV-ICD system, providing essential therapeutic capabilities akin to traditional implantable defibrillators without the need for intrusive procedures.

About AtaCor Medical

AtaCor Medical is dedicated to transforming the field of cardiac pacing and defibrillation. Their innovative extravascular (EV-ICD) system showcases a unique design that makes it possible to achieve the full range of therapeutic functions of standard implantable defibrillators, such as defibrillation and antitachycardia pacing, without utilizing invasive hardware within the heart or vascular pathways. This pioneering technology not only preserves future treatment avenues for cardiac issues but also effectively overcomes significant drawbacks associated with existing ICD systems.

AtaCor's venture investors include notable firms such as Arboretum Ventures, Broadview Ventures, Longview Ventures, Hatteras Venture Partners, Catalyst Health Ventures, and BayMed Venture Partners.

Frequently Asked Questions

What is the purpose of the $75 million financing for AtaCor Medical?

The financing aims to fund a pivotal study evaluating AtaCor's innovative EV-ICD system to enhance cardiac rhythm management.

How does the Atala™ lead differ from traditional ICDs?

The Atala™ lead provides defibrillation and pacing without placing hardware inside the heart or vasculature, addressing certain limitations of traditional devices.

What are the plans for future trials related to the EV-ICD system?

AtaCor is planning to launch the ALARION EV Pivotal Study to further evaluate the safety and efficacy of the EV-ICD system in both the U.S. and Europe.

Who are AtaCor Medical's partners and investors?

AtaCor collaborates with various venture investors, including Arboretum Ventures and Broadview Ventures, to support their innovation in cardiac devices.

Is the AtaCor EV-ICD Lead System available for commercial sale?

No, the AtaCor EV-ICD Lead System is under development for investigational use only and is not currently approved for sale.

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