Angel Medical Systems, a developer of continuous intracardiac ischemia monitoring technologies, has raised $27.5m in the financing round.
In the round, Angel's existing venture capital, strategic partner and investors, as well as a new investor group, SOAM Angel Partners, have participated.
The company will use the proceeds to complete the Phase II pivotal trial of the CE-marked AngelMed Guardian system heart monitor, designed to track significant changes in the heart's electrical signal and identify the signature of acute thrombotic occlusions.
In addition, the company will use the additional capital for research and development of its next generation ischemia monitoring device, and continued expansion and commercialization in Europe and Brazil.
Angel Medical Systems chief executive officer David Fischell said the company has made significant progress in its pivotal trial of the Guardian system, with more than 660 patients implanted with the device in the US.
"This additional capital will enable us to continue study enrollment, and providing efficacy endpoints are met, file our Premarket Approval (PMA) in the coming year," Fischell added.
"Detecting and warning patients at the earliest stage of coronary occlusion would allow us to shift the paradigm for treatment forward to the onset of the heart attack, which we believe could significantly improve clinical outcomes."
