Welcome!

News Feed Item

Advanced Cardiac Therapeutics Announces New Financing for Next Generation Temperature-Sensing Cardiac Ablation Catheter for Treatment of Cardiac Arrhythmias

- Led by New Enterprise Associates and Experienced Medical Device Industry Veterans, Financing Will Support Development of Next Generation TempaSure™ Radiometric Temperature-Sensing Radio-Frequency Ablation Catheter Capable of Accurate, Real-Time Volumetr

MENLO PARK, Calif., April 18, 2014 /PRNewswire/ -- Advanced Cardiac Therapeutics, Inc. ("ACT"), a medical device company that is developing a novel, temperature-sensing, irrigated, radiofrequency (RF) ablation catheter for treatment of cardiac arrhythmias, announced today the completion of a new round of equity financing as well as several key appointments to its Board of Directors. The financing, which was led by New Enterprise Associates ("NEA") and supported by existing investor, NBGI Ventures, will enable the Company to continue to advance its next generation TempaSure™ ablation catheters and related clinical development program.

In conjunction with the closing of the financing, ACT has made several key appointments to its Board of Directors. Justin Klein, Partner at NEA, has joined the Company's Board of Directors, along with Duke Rohlen, CEO at Ajax Vascular, who joins as the newly appointed Chairman of the Board. In addition, Mike Pederson, CEO of VytronUS and former VP & General Manager of Electrophysiology at Boston Scientific, has joined the Board as an independent director, and will work alongside current independent director, Roy Tanaka, the former the President of J&J Biosense Webster.

"We are fortunate to have Dr. Klein, Mr. Rohlen, and Mr. Pederson join ACT's Board of Directors. Their extensive investment and operating experience in the cardiovascular medical device industry will add valuable perspective to the Company as we move forward into our next phase of development," said Bill Olson, who will transition from CEO of ACT to an independent director on the Company's Board of Directors.

Commenting on NEA's investment, Dr. Klein stated, "We have closely followed the rapidly changing field of atrial fibrillation ablation and believe that ACT's proprietary TempaSure™ technology offers an innovative advancement in lesion creation and assessment that has the potential to improve clinical outcomes and procedure economics through enhanced accuracy and safety."

"Having seen the challenges associated with RF ablation over the last two decades, I'm excited to see a technology emerge that directly addresses the issue of real-time lesion assessment for catheter ablation," said Mike Pederson. "With promising early clinical results to support this novel technology, extensive intellectual property, and commitment to rigorous clinical science, we believe the Company is well-positioned to build a valuable new franchise opportunity in electrophysiology," added Duke Rohlen, newly appointed Chairman of the ACT Board of Directors.

Irrigated RF ablation catheters have become a mainstay device for treatment of atrial fibrillation and other cardiac arrhythmias. The introduction of catheter tip irrigation over a decade ago has allowed for safe use of higher energy levels resulting in improved outcomes, but impacted the ability of electrophysiologists to accurately control and assess tissue temperature, and by extension, maximize safe and effective lesion creation. ACT's TempaSure™ enabled irrigated RF ablation catheter leverages patent-protected microwave radiometry, which is not affected by saline irrigation, to accurately predict volumetric tissue temperature with a goal of restoring the clinician's ability to monitor lesion formation in real-time for a safer, more efficacious procedure.

ABOUT ATRIAL FIBRILLATION
According to the Heart Rhythm Society, atrial fibrillation is the most common sustained heart rhythm disorder with an estimated 12.5 million people worldwide who suffer from symptomatic AF. In atrial fibrillation, the electrical signals that coordinate contractions of the heart become rapid and disorganized, resulting in an irregular heartbeat that can increase the risk of stroke by fivefold. It is estimated that the global market for medical devices used in cardiac arrhythmia ablation, including diagnostic and ablation catheters as well as mapping and navigation systems exceeded $2.6 billion in 2013 with over 300,000 patients undergoing catheter and surgical ablations for treatment of AF.

ABOUT ADVANCED CARDIAC THERAPEUTICS
Advanced Cardiac Therapeutics, Inc., is a medical device company focused on developing an innovative temperature-sensing irrigated RF ablation catheter for treatment of cardiac arrhythmias. ACT's TempaSure™ technology features proprietary microwave radiometry technology that can accurately assess volumetric temperature in the heart in real time so that physicians can more precisely control and predict lesion formation for improved clinical outcomes. The Company is developing catheters for a range of ablation procedures, including atrial fibrillation, one of the fastest growing market opportunities in the medical device industry. 

ABOUT NEA

NEA is a leading venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $14 billion in committed capital, the firm invests in information technology, healthcare and energy technology companies at all stages in a company's lifecycle, from seed stage through IPO. NEA's long track record of successful investing includes more than 175 portfolio company IPOs and more than 300 acquisitions. For additional information, visit www.nea.com.

Contact:
Cynthia Yee
415-439-3010

SOURCE Advanced Cardiac Therapeutics, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
SYS-CON Events announced today that SD Times | BZ Media has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and commercial UAV markets.
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
Now that the world has connected “things,” we need to build these devices as truly intelligent in order to create instantaneous and precise results. This means you have to do as much of the processing at the point of entry as you can: at the edge. The killer use cases for IoT are becoming manifest through AI engines on edge devices. An autonomous car has this dual edge/cloud analytics model, producing precise, real-time results. In his session at @ThingsExpo, John Crupi, Vice President and Eng...
There are 66 million network cameras capturing terabytes of data. How did factories in Japan improve physical security at the facilities and improve employee productivity? Edge Computing reduces possible kilobytes of data collected per second to only a few kilobytes of data transmitted to the public cloud every day. Data is aggregated and analyzed close to sensors so only intelligent results need to be transmitted to the cloud. Non-essential data is recycled to optimize storage.
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, provided the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” used open source attack tools that are free and available for download by anybody. Attendees learned where to find and how to operate these tools for the purpose of testing their own IT infrastructure. The...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.