The investment, which is part of a $5.4 million (£3.5 million) Series A financing round, came from the London-based Advent’s dedicated fund Advent Life Sciences.
Additional investors in the round are Index Ventures and the company’s founders.
The funding will enable San Diego and Zurich-based Acutus Medical to develop prototypes of its electrophysiological mapping system, which allows improved cardiac mapping and will help in the treatment of cardiac arrhythmias.
General partner at Advent Life Sciences, and now Acutus board member Shahzad Malik comments, ‘The treatment of atrial fibrillation using medical devices is an area with substantial growth potential and we believe Acutus has the ability to significantly expand the market while improving outcomes based on more accurate electrophysiological mapping.’
The medical company, which was founded in 2011, will develop the technology in both the US and Europe and says CE marking, the mandatory European product mark, is expected to be achieved within two years.
Advent Life Sciences predominantly invests in early-stage and growth equity life sciences companies in the UK, Europe and the US and other investments include DNA vaccine company PowerMed and obesity treatment company Thiakis.
