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Last updated on April 23, 2014 at 21:24 EDT

Advanced Cardiac Therapeutics Completes $5 Million Financing

January 11, 2010

LAGUNA BEACH, California, January 11 /PRNewswire/ — Advanced Cardiac
Therapeutics, Inc. (“ACT”), a developer of advanced irrigated cardiac
ablation systems, announced today that it has completed a $5 million ‘Series
B’ equity financing. The financing was led by NBGI Ventures, a venture
capital firm specialized in medical technology investments, and is expected
to fund commercialisation in Europe.

ACT was founded in 2007 to develop a novel irrigated radiofrequency
cardiac ablation catheter with a diagnostic application of established
microwave radiometry technology in association with the founder of the
technology, Dr Kenneth Carr, and an experienced catheter development partner,
Contract Medical International, based in Dresden, Germany.

Cardiac catheter ablation procedures are used to treat a variety of
cardiac arrhythmias including Atrial Fibrillation (AF), which is estimated to
affect over five million people in the USA and Europe. The procedures involve
advancing a catheter into the heart and selectively ablating certain areas of
tissue in order to prevent the spread of electrical signals that give rise to
the arrhythmia. Most catheter ablation procedures are now conducted with
irrigated catheters, in which saline is pumped through the tip during the
application of energy, in order to prevent the tip from overheating and
increasing risk of blood clotting events. However, as the tip is cooled, it
is not possible to estimate the effect of the energy on the tissue by
measuring the temperature at the surface of the tissue. ACT’s technology will
enable for the first time measurement of tissue temperature with an irrigated
catheter. This will permit Electro-Physiologists greater control in their
lesion creation and has the potential to improve patient outcomes.

“Unlike any other catheter today, ACT’s technology allows the
Electro-Physiologist to optimize irrigated catheter generated lesions by
knowing the real time ablation temperature inside the cardiac tissue”, Peter
van der Sluis
, ACT’s CEO, commented. “The completion of our B round funding
allows us to fully prepare for the commercial launch of ACT’s technology in
2010.”

Gerard Harper of NBGI Ventures added: “We are delighted to support this
exciting opportunity within the rapidly-growing cardiac catheter ablation
market. ACT’s system has potential to bring a step-change in lesion control
during these procedures and improve outcomes for patients.”

About Advanced Cardiac Therapeutics

Headquartered in Laguna Beach, California, USA, ACT specializes in
advanced irrigated cardiac catheter ablation systems with proprietary
temperature-sensing technology based on microwave radiometry.

About NBGI Ventures (http://www.nbgiventures.com)

NBGI Ventures, established in 2001, manages funds with over EUR100
million
in total commitments and focuses on leading investments in innovative
medical technology companies. NBGI Ventures is based in London and considers
investments across Europe and the US. Companies it has supported to date
include Advanced Cardiac Therapeutics (USA), Biospace Med (France),
BoneSupport (Sweden), Estech (USA), Forth Photonics (UK), Quanta Fluid
Solutions (UK), Reverse Medical (USA), SuperSonic Imagine (France), 2010
Perfect Vision (Germany) and Upfront Chromatography (Denmark). NBGI Ventures
is a division of NBGI Private Equity Limited, which is authorised and
regulated by the Financial Services Authority.

    For more information contact:

    Advanced Cardiac Therapeutics
    Peter van der Sluis, CEO
    T: +1-949-500-0192
    E: pvandersluis@actmed.net

    Media enquiries:
    Hogarth
    Julian Walker / Sarah MacLeod
    T: +44(0)20-7357-9477

SOURCE Advanced Cardiac Therapeutics


Source: newswire