Kirkland-based Cardiac Dimensions recently raised $5.8 million in equity, debt and warrants, in order to buy shares from a group of 17 investors, according to a SEC filing and an article on Xconomy.
The company, which produces a medical device intended to treat congestive heart failure, got clearance to sell its first product in Europe last year, and according to CEO Rick Stewart’s interview with Xconomy, have recently begun marketing overseas.
The Carillon Mitral Contour System, which is the name of the product, specifically treats mitral valve regurgitation, a condition which causes blood to flow back into the heart, when it is pumped out. The device itself is inserted non-surgically and tightens the mitral valve using highly flexible wire.
Loose mitral valves is the most common type of heart valve disorder, and is often associated with other heart conditions such as high blood pressure or infection of the heart valves. Loose mitral valves is a condition which an estimated 3.2 million Americans suffer from.
Founded in 2001, Cardiac Dimensions raised a $35.5 million round in 2007 from Johnson & Johnson Development Corp., Lumira Capital, Mitsubishi UFJ Capital, West River Capital, Montgomery & Co., Frazier Healthcare Ventures, Interwest Partners, MPM Capital, and Polaris Venture Partners. Xconomy notes that the company has raised about $60 million to date.
