Cardiac Dimensions Secures $53 Million Series E Financing to Advance Heart Failure Treatments
Cardiac Dimensions®, a leader in minimally invasive treatments for heart failure and functional mitral regurgitation (FMR), has successfully closed an oversubscribed $53 million Series E financing round. The round was led by Ally Bridge Group, with participation from new investor Claret Capital Partners and existing investors, including Hostplus, M.H. Carnegie, Horizon 3 Healthcare, Lumira Ventures, and a confidential strategic investor.
The funding will support the completion of the EMPOWER Trial, a U.S. pivotal study, and accelerate the global commercialization of the Carillon Mitral Contour System®. This innovative device is designed to restore natural mitral valve function without damaging the valve leaflets. The catheter-based procedure promotes favorable left ventricular remodeling and has been shown in clinical studies to reduce mitral regurgitation, improve quality of life, and extend survival for a broad range of FMR patients. Importantly, the Carillon therapy can be used as a front-line treatment for early-stage FMR without limiting future therapeutic options.
Rick Wypych, President and CEO of Cardiac Dimensions, stated: “Cardiac Dimensions is uniquely positioned to provide a safe, simple, and effective solution for heart failure patients suffering from FMR. This financing reflects the strong confidence of Ally Bridge and our existing investors in the Carillon therapy’s potential to address the needs of this high-need patient population. With these additional resources, we are well-positioned to continue our global commercial expansion and improve the lives of patients with this debilitating disease.”
Steve Plachtyna of Ally Bridge Group, who joins the company’s board of directors, added: “We are excited to lead this financing and support Cardiac Dimensions’ significant advancements in treating heart failure patients with FMR. The company has made impressive progress in both clinical development and commercial expansion outside the U.S., and this funding will further accelerate these efforts.”
Functional mitral regurgitation (FMR) is a common condition among heart failure patients, affecting over 64 million people globally. Studies show that up to 59% of heart failure patients experience moderate or severe FMR. If left untreated, FMR can lead to increased hospitalizations, reduced quality of life, and higher mortality rates. The Carillon Mitral Contour System® offers a promising solution to address these challenges, providing a minimally invasive option that improves patient outcomes.
