COPENHAGEN, Denmark, July 18, 2023 /PRNewswire/ — CathVision, a medical technology company developing innovative electrophysiology solutions designed to support clinical decision making in the EP lab, today announced its most recent financing round of $9 million from investors.
The financing will help advance commercial operations driving adoption of the ECGenius™ System, the company’s innovative EP recording technology, and support the continued development of artificial intelligence-powered analytic modules to provide electrophysiologists with unprecedented levels of automated analysis during cardiac ablation procedures.1 This includes expansion of the company’s sales team and U.S. presence, and further development of the CARDIALYTICS™ suite of artificial intelligence-powered analytics. This newest round of funding brings the total raised to date by CathVision to nearly $30 million.2
“Despite challenging times in the financial markets, CathVision remains a confident investment for stakeholders because we are achieving critical milestones that validate the need for our technology, revenue generation through successful commercialization, and our commitment to ongoing R&D,” said Mads Matthiesen, CEO, CathVision. “This investment round will support the acceleration of commercial adoption through 2024 as we position CathVision to significantly impact how, throughout the United States, we help physicians treat cardiac arrhythmias more effectively.”
The ECGenius System includes a proprietary hardware amplifier capable of acquiring high-fidelity, low-noise cardiac electrograms. The technology represents a crucial progression in the quality of cardiac signal acquisition, the accuracy of electrogram interpretation, and the advancement of therapy support to help electrophysiologists improve the overall diagnosis and treatment of complex atrial arrhythmias, including atrial fibrillation (AF), which increases the risk of stroke and heart failure. The ECGenius System received FDA 510(k) clearance in May 2022 and is currently available.
CathVision has achieved several key milestones since the announcement of its last funding round in August 2022, including:
- The initiation of a clinical study with NYU Health Langone evaluating the Signal Complexity™ algorithm3
- An expanded number of hospitals utilizing the ECGenius System
- The completion of three clinical studies that met their primary endpoints
- A strengthened intellectual property (IP) portfolio
- Expanded industry recognition with seven scientific abstracts featuring CathVision technology presented at the 2023 Heart Rhythm Society (HRS) conference
The ECGenius System is commercially available in the United States. For more information about the ECGenius System, please visit www.cathvision.com/ep-recording-enhanced or email contact@cathvision.com.
About CathVision
CathVision is a medical technology company that develops electrophysiology solutions centered around an innovative EP recording system and AI algorithm platform – the ECGenius System. Committed to empowering physicians to make more informed clinical decisions in the EP lab, CathVision is redefining the necessity of exceptional cardiac electrical signals to diagnose, characterize, and treat the most common heart rhythm disorders. CathVision was founded in 2013 and is headquartered in Denmark with a U.S. office in Minnesota.
Follow CathVision on: LinkedIn and Twitter
1 ECGenius System is cleared for sale in the US. Not approved for sale in the rest of the world.
2 CARDIALYTICS is not cleared for sales.
3 Signal Complexity is not cleared for sales.
SOURCE CathVision
