The funds raised will enable CoreMap to develop more precise data-driven tools to assist atrial fibrillation ablation.
CoreMap, a US-based medtech, has announced the closure of an oversubscribed Series C funding round, which was led by Medtronic and included participation from existing and new investors.
The organisation, which was established in 2016 and is headquartered in Burlington, Massachusetts, focuses on advancing the diagnosis and treatment of atrial fibrillation. This is a common heart rhythm disorder in which the beat is irregular.
CoreMap will put some of the funds raised towards further developing its electrophysiology mapping system, which is designed to provide physicians with atrial fibrillation (AF) ablation guidance, based on large datasets of highly accurate electrical activation data.
Ablation is a technique that targets tissue in the heart, creating tiny scars via radiofrequency or pulsed field energy; this works to block the faulty signals that result in the irregular heartbeat.
Commenting on the funding announcement Sarah Kalil, the CEO and co-founder of CoreMap, said: “The successful completion of this financing is a significant milestone for CoreMap.
“AF remains one of the most significant unsolved challenges in electrophysiology and physicians need better data to guide treatment decisions and improve patient outcomes. This investment provides the resources to accelerate CoreMap’s next-generation AF mapping platform’s time to market.”
Chris Eso, the global head of corporate and business development, M&A and ventures at Medtronic, said: “CoreMap is addressing one of the critical unmet needs in AF treatment with a differentiated technology platform and strong clinical support. We are excited to support Sarah and the CoreMap team as they advance the company through its next stage of growth.”
SiliconRepublic.com previously spoke with Ronan Rogers, the senior R&D director for cardiac ablation solutions at Medtronic. Alongside his colleague Ruth Callanan, who is Medtronic’s director of site quality, Rogers discussed how the Ireland’s west is building real depth not just in medtech, but across key areas such as pharmaceutical science, advanced analytics and digital technology.
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