Atraverse Medical, a medical device company involved in minimally invasive cardiac surgery, has announced a $29.4 million subsequent funding.
The pay raise was used to expand by $12.5 million in previous seed investments, obtain FDA 510(k) clearance and begin early commercialization of Hotwire, a Radiofrequency guidewire for left heart access.
The company raises more than $40 million in investment capital.
Private investor Jean-Luc Pageard helped raise funds, according to a company spokesperson.
What it does
atraverse medicalThe Hotwire System is a universal sheath used for catheter-based cardiac procedures.
According to the company, HotWire “enables physicians to use the preferred transmembrane sheath while offering the benefits of RF-guided punctures, including zero-exchange workflows.”
The funds will be used to expand commercial organizations, strengthen manufacturing operations and expand their products into the research and development pipeline.
“This funding is a major milestone for ATRAVERSE, highlighting the evolution from start-ups to start-ups,” said John Slump, CEO, president and co-founder of ATRAVERSE MEDICAL.
“We are based on the Hotwire platform, expanding our manufacturing industry, expanding our teams, investing in new product development. Investor syndicates include angel investors, family offices, and Medtech entrepreneurs who share their confidence that Hotwire is setting new standards as a future for left-handed access.”
Market Snapshot
Other companies in coronary guidewire space include Abbott, Boston Science, Medtronic.
2024, Eko Health has received the FDA 510(K) clearance, an AI-enabled cardiac tool that helps in early detection of low ejection fraction, a key indicator of heart failure.
Eko Low Ejjection Fraction Tools (ELEFT) is an AI-enabled tool that allows providers to detect low ejection fractions in 15 seconds during routine testing using an EKO stethoscope.
ELEFT has been added to Eko’s Sensora Cardiac Early detection platform, which includes several FDA-cleared algorithms to identify AFIB and structural cardiac murmurs.
2021, Abbott was given FDA clearance in the imaging software. It utilizes artificial intelligence to provide physicians with a clearer view of cardiovascular blood flow and obstruction.
Ultreon 1.0 software combines optical coherence tomography with AI to help physicians make informed decisions about the next steps in their treatment.
