London-based investor NBGI Ventures has led a $5 million (£3 million) Series B investment round into Advanced Cardiac Therapeutics.
London-based investor NBGI Ventures has led a $5 million (£3 million) Series B investment round into Advanced Cardiac Therapeutics (ACT).
US-based ACT, a developer of systems to treat sufferers of irregular heart rhythms, will use the proceeds to fund commercialisation of its technology in Europe where it is working with German catheter development partner Contract Medical International.
Peter van der Sluis, ACT’s chief executive, says, ‘The completion of our B round funding allows us to fully prepare for the commercial launch of ACT’s technology in 2010.’
Founded in 2007, ACT’s technology involves advancing a catheter into the heart in order to prevent the spread of electrical signals that cause arrhythmia. The process is known as cardiac catheter ablation.
NBGI manages funds of more than €100 million (£90 million) and specialises in medical technology investments in Europe and the US.