Minnesota’s Imricor raising $2.5 million to develop MRI ablation system

BURNSVILLE, Minnesota — Imricor Medical Systems, the developer of a unique system for performing cardiac ablations, is hoping to raise more than $2.5 million, according to a filing with the Securities and Exchange Commission.

Cardiac ablation is a non-invasive procedure used to destroy tissue that is causing the heart to short circuit resulting in an irregular heartbeat. Doctors currently navigate cardiac ablations using a fluroscope: an X-ray-like machine that provides live images of the catheter moving through the tissue in the body. Imricor has designed an MRI ablation system that would eliminate X-ray radiation for patients and physicians.

The product prototypes are complete and the company is preparing to enter the U.S. regulatory approval process.

The company is raising money through equity and warrants, according to the SEC filing. The funds will be used for working capital and general business purposes, including Chief Executive Officer Steven Wedan’s salary, the filing stated.