Wireless sensing and communications developer CardioMEMS just announced that it had completed a $22.1 million round of financing. The company said that the additional funds will bankroll its heart failure clinical trial, which was initiated in September of 2007 and is currently taking place in more than 65 heart centers across the U.S.
CardioMEMS first announced its heart failure pressure management system in 2006: The system includes a wireless sensor that is implanted into the patient's pulmonary artery. The sensor can then measure pulmonary artery pressure and display the data to patients at home. The pressure data is also transmitted to a secure database the physicians and the patients can review on CardioMEMS proprietary website. The company plans to seek FDA approval of its CHAMPION heart failure pressure measurement system in 2010.
Dan Bauer, CardioMEMS CFO stated, "We are pleased with the continued support of Arcapita Ventures, Boston Millennium, Foundation Medical and our other existing investors. We look forward to the successful completion of the CHAMPION trial as well as pursuing other opportunities where our technology can be beneficial."
For more on CardioMEMS, check out the company's recent press release.