Chris Delporte05.12.10
CardioMEMS Inc., the developer of an implantable device to measure and transmit pulmonary artery pressure, has raised $37.9 million in additional capital.
According to the Atlanta, Ga.-based firm, this latest round will provide capital to complete a clinical trial of its heart failure pressure management system, called Champion, with 550 patients through 65 heart centers in the United States. The trial started in 2007 with results expected this summer.
The device is a wireless high-frequency sensor implanted in the artery using a catheter-based procedure. The pressure is measured and displayed on a proprietary monitoring system. Following the procedure, patients perform wireless measurements of the pulmonary artery pressure from home. The data is transmitted to a secure database for physician review on a proprietary website.
"We are pleased with the continued support of Arcapita Ventures and our other existing investors,” said Jay Yadav, M.D., founder and CEO of CardioMEMS and an interventional cardiologist. “We look forward to the successful completion in the coming months of the Champion trial and the continuation of the FDA approval process for our heart failure pressure measurement system."
Using radiofrequency, the company’s sensors transmit real-time data to external electronic readers, which then communicate information to the patient's physician. Company officials have said that their model of on-demand, real-time monitoring of vital information enables proactive patient management, which in turn reduces hospitalizations, improves patients' quality of life, and delivers more cost-effective healthcare.
According to the Atlanta, Ga.-based firm, this latest round will provide capital to complete a clinical trial of its heart failure pressure management system, called Champion, with 550 patients through 65 heart centers in the United States. The trial started in 2007 with results expected this summer.
The device is a wireless high-frequency sensor implanted in the artery using a catheter-based procedure. The pressure is measured and displayed on a proprietary monitoring system. Following the procedure, patients perform wireless measurements of the pulmonary artery pressure from home. The data is transmitted to a secure database for physician review on a proprietary website.
"We are pleased with the continued support of Arcapita Ventures and our other existing investors,” said Jay Yadav, M.D., founder and CEO of CardioMEMS and an interventional cardiologist. “We look forward to the successful completion in the coming months of the Champion trial and the continuation of the FDA approval process for our heart failure pressure measurement system."
Using radiofrequency, the company’s sensors transmit real-time data to external electronic readers, which then communicate information to the patient's physician. Company officials have said that their model of on-demand, real-time monitoring of vital information enables proactive patient management, which in turn reduces hospitalizations, improves patients' quality of life, and delivers more cost-effective healthcare.