Argá Medtech SA closes oversubscribed Series B
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Argá Medtech announces €54 Million oversubscribed series B capital raise.
The round was led by the existing investors, Advent Life Sciences (UK) and Earlybird Health (Germany), as well as new investor Gilde Healthcare (the Netherlands) and an undisclosed strategic investor.
The financing enables Argá Medtech to advance the development of its innovative CSE™ Pulsed Field Ablation (PFA) system for treating AF through the execution of an IDE study in the US and a CE Mark study in the EU. With the funding, the company will also expand its US offices in San Diego, CA, in anticipation of its US clinical activities.
“We are pleased to secure the support of such marquee investors who believe that Argá Medtech will revolutionise the atrial fibrillation ablation field,” said David Neale, CEO of Argá Medtech. “This financing enables us to advance toward our goal of validating the CSE™ PFA system in Europe and the US as we work to deliver a safe, fast, and effective treatment to millions of people affected by cardiac rhythm disorders and atrial fibrillation. We are proud of our accomplishments to date, including conducting a 48 patients first-in-human study in Europe, which demonstrated the high performance of our platform in treating atrial fibrillation.”
Argá Medtech’s CSE™ ablation system enables electrophysiologists to treat any region in the heart safely and efficiently using a single, multi-configurable catheter while titrating lesion depths according to the location within the heart.
Source: press release