A St. Louis, Missouri medical device company is raising money in preparation for clinical trials of its pain-free cardioversion therapy for atrial fibrillation, developed by a former Case Western Reserve University researcher.
CardiaLen Inc. has secured $2.4 million for its implantable low-voltage atrial cardioverter, technology developed by Prof. Igor Efimov and licensed from Washington University and Case.
Atrial fibrillation is the most common form of cardiac arrhythmia and increases a person’s risk for stroke and premature death. Since patients typically remain conscious during episodes, a pain-free operation is essential to AF treatment, according to CardiaLen.
Founded in 2008, CardiaLen has facilitated the development of its technology by raising more than $1.2 million in seed capital in 2009 and 2010. It also raised $1.1 million from Broadview Ventures in 2011 and more than $450,000 in government grants. Other investors include St. Louis Arch Angels and BIOGenerator.
CardiaLen operates its clinical headquarters in St. Louis and operates a production facility in St. Paul, Minnesota. A phone message to CEO Bob Calcaterra seeking more information was not returned.
