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Healthcare provider holding a device from Cardiac Dimensions for treating functional mitral regurgitation. (Cardiac Dimensions Photo)
Cardiac Dimensions, a Kirkland, Wash., company with a technology to treat heart valve malfunction, has raised $53 million from investors. Its total funding is more than $200 million.
Cardiac Dimensions is targeting a condition called mitral valve regurgitation, which involves the leakage of blood through the heart’s mitral valve during the contraction of the left ventricle. The condition can lead to an enlarged heart and is associated with congestive heart failure.
The company’s Carillon Mitral Contour System is designed to tighten the leaky valve through a minimally invasive procedure.
The new funding positions the company “to continue our global commercial expansion of the Carillon therapy to improve the lives of patients with this debilitating disease,” said CEO and president Rick Wypych in a statement.
Cardiac Dimensions has completed four trials that investigated the devices’ safety and performance, with the fourth conducted as a fully randomized, blinded, sham-controlled trial of patients. It is currently enrolling patients in a fifth trial being performed in the U.S. and other locations.
The Carillon Mitral Contour System is being sold in Europe and countries that follow European medical device approvals. It is available only as an investigational device for research purposes in the U.S. and Canada.
Cardiac Dimensions was founded in 2001. It also has operations in Sydney and Frankfurt, and about one-third of its 65 employees are based in Europe. Wypych has been CEO since 2020, previously working as chief operating officer and chief financial officer for the med tech company.
The chief clinical officer is Dr. Steven Goldberg, who was previously an associate professor at UW Medicine and director of its cardiac catheterization lab. Goldberg is currently an interventional cardiologist at the Benefis Medical Center in Great Falls, Mont.
The Series E round was led by Ally Bridge Group and included new investor Claret Capital Partners. Existing investors that also participated in the round are Hostplus, M.H. Carnegie, Horizon 3 Healthcare, Lumira Ventures and a confidential strategic investor.
Editor’s note: Story updated with a corrected total funding estimate.
