CardioNXT a privately-held medical device company announced today that it has secured an additional $1 5MM in equity funding from Solas BioVentures and existing investors
CardioNXT has built a platform of products that enable a better understanding of complex cardiac arrhythmias such as Atrial Fibrillation and furthermore deliver targeted therapy to affected areas within the heart In addition to providing next generation technology CardioNXT products are designed to reduce the cost of cardiac catheter ablation procedures This attention to cost reduction will not only benefit the U S market it will enable arrhythmia therapies to be adopted rapidly in global markets including underserved emerging markets CardioNXT expects regulatory approval for its products in targeted markets within nine months
Solas BioVentures is a privately held venture capital fund that invests exclusively in life science companies Solas is headquartered in Chattanooga TN with offices in Nashville and Minneapolis
David Adair MD Managing Partner of Solas BioVentures stated Our mission is to invest in solutions that enable people to lead longer and fuller lives Atrial Fibrillation AFib affects 6 1 million Americans alone and many more people globally AFib has been linked to stroke and dementia due to pooling blood and resultant clots travelling to the brain from the heart The CardioNXT technology platform has the ability to revolutionize how we treat AFib as well as make therapies more affordable globally We are excited to help CardioNXT bring its technology to market to help people lead longer and fuller lives ‘
Michael Hoey PhD General Partner of Solas BioVentures stated Creating a technology to better understand and treat AFib is outstanding Creating a technology to better treat AFib and lower the cost of adoption so that the entire world can have access to it that’s revolutionary ‘
Jerome Edwards Co-Founder and CEO of CardioNXT stated We are fortunate to have found a partner in Solas BioVentures that truly appreciates our vision and mission of helping treat patients with cardiac arrhythmias such as AFib in a manner that is affordable for the entire world CardioNXT was founded by an Engineer and a Cardiac Electrophysiologist Thomas Kurian MD our mission remains true to our core values from inception ‘
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