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News Release - July 7, 2017
CathVision Raises Venture Funding to Market New EP Recording SystemMedical device company CathVision has signed a multi-million venture investment from Scandinavian-based investors VF Venture and Borean Innovation. The investment is directed at developing and market the company's superior electrophysiology (EP) recording system for treating cardiac arrhythmia.
COPENHAGEN, Denmark, July 7, 2017 -- (Healthcare Sales & Marketing Network) -- Medical device company CathVision has signed a multi-million venture investment from Scandinavian-based investors VF Venture and Borean Innovation. The investment is directed at developing and market the company's superior electrophysiology (EP) recording system for treating cardiac arrhythmia.
Approximately 2% of the Western population suffers from cardiac arrhythmia, and hospital-based catheter ablation procedures are directed at terminating arrhythmia. Still, a number of challenging arrhythmia suffers from unsatisfactory low efficacy of 50%.
CathVision works to address the unmet need of successfully ablating challenging arrhythmia, such as atrial fibrillation and ventricular tachycardia.
New low-noise technology
CathVision's product is a proprietary low-noise EP system that helps guide the medical professionals to the right spot for cardiac ablation. Contrary to competitors, CathVision has IP protected low-noise technology to provide the medical staff electrogram-driven clinical decision support.
CathVision is working with international leading physicians and electrophysiologists to test and market its proprietary low-noise EP recording system. The new investment allows the company to conduct clinical tests and market the product.
The EP/ablation market is a $3Bn market, comprising disposable catheters, 3D mapping systems and EP recording systems. CathVision is pursuing a market leader position in the EP recording system segment, while most competition is addressing 3D mapping and ablation catheter technology. CathVision expects market entry in 2018.
CEO at CathVision, Mads Emil Matthiesen, says:
"With the new investment and attraction of experienced investors, we are entering a new company phase towards market stage. We are working to document our advantages by conducting a series of animal and human tests in 2017-18. We are excited to bring physicians and hospitals a product that can make a difference for patients."
Managing Partner at VF Venture, Tonni Bülow-Nielsen, says:
"CathVision works in one of the fastest growing segments in medical technology. CathVision's team has worked patiently and consistently with their product over a number of years, and we have followed the company for several years. I think CathVision represents an attractive investment target in a market with high activity."
Portfolio Manager at Borean Innovation, Lene Gerlach, PhD, says:
"CathVision is one of the investments we have high expectations for. We have been on board since 2014 and we have now completed three capital raises in the company. We are very satisfied with the syndicate with VF Venture and look forward to the joint work towards market approval and roll-out."
About VF Venture
VF Venture is part of The Growth Fund, the Danish state investment fund. VF Venture makes direct equity investments on market conditions in innovative Danish companies with ambitions to expand beyond geographical borders. VF Ventures invests in 5-10 companies yearly and has more than 30 companies in its portfolio. For more information, see http://www.vf.dk.
BOREAN Innovation is a Danish innovation incubator with headquarters in Aalborg and with offices in Herning, Holstebro, Aarhus and Copenhagen. BOREAN has a portfolio of 75 companies in biotechnology / medtech, IT and communications, medical technology and electronic hardware. BOREAN provides venture capital and helps business development for entrepreneurs and new innovative companies. For more information, see http://www.borean.dk .
CathVision ApS develops an electrophysiology recording system to guide cardiac ablation procedures. The company specializes in low-noise hardware and analytical software for cardiac procedures. CathVision was incorporated in 2013 and has previously received funding from Confederation of Danish Industry, Nordea Entrepreneurship Fund, The Market Development Fund and Innovation Fund Denmark, in addition to Borean Innovation and VF Venture. For more information, see http://www.cathvision.com .
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