Advanced Cardiac Therapeutics Announces $45 Million in New Funding to Advance Innovative Treatment for Heart Disease
May 5, 2017
SANTA CLARA, CA—(BUSINESS WIRE)—Advanced Cardiac Therapeutics, Inc., (“ACT” or the “Company”), a medical device company focused on developing a next-generation ablation catheter to treat cardiac arrhythmias including atrial fibrillation, today announced $45 million in new equity funding led by Ajax Health (“Ajax”) alongside existing investor New Enterprise Associates (“NEA”) and new investor Questa Capital Management (“Questa”).
About Advanced Cardiac Therapeutics, Inc.
Advanced Cardiac Therapeutics, Inc. is a medical device company that designs and manufactures a catheter-based system for the treatment of patients with atrial fibrillation and other cardiac arrhythmias. Atrial fibrillation is characterized by an irregular, often rapid heart rate. The Company’s mission is to dramatically improve the treatment of this disease through the introduction of novel products based on its proprietary technology. ACT’s DiamondTemp™ technology is the only system in the world to leverage four unique capabilities: temperature control, low irrigation flow rates, high resolution electrogram attenuation, and contact sensing. The ACT system is not currently approved for commercial use. For more information, please contact Marissa Bramlett at [email protected]. www.actmed.net
About Ajax Health
Ajax Health operates health care companies that address significant unmet needs by developing emerging medical device technologies. Founded in 2017, and backed by KKR and Aisling Capital, the company leverages its resources in sourcing and operations to drive better treatment outcomes. Ajax Health is located in Menlo Park, CA.
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $17 billion in cumulative committed capital since inception, NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions. www.nea.com.
About Questa Capital
Questa Capital is a healthcare venture capital firm that invests in growth-stage healthcare companies. Founded in 2016, the firm is led by three senior partners: Ryan Drant, who previously led healthcare investing at NEA; Brad Sloan, previously a senior healthcare investor at Parthenon Capital; and Shawn Conway, a former senior operating executive at Andreessen Horowitz and NEA. Questa seeks out disruptive business models that improve lives and provide better quality and more efficient care. The firm partners with superior management teams to help build innovative market leaders. For more information visit www.questacapital.com.
Media: KKR Kristi Huller or Cara Kleiman, 212-750-8300 [email protected]