Angel Medical, a healthcare products manufacturer, announced that it was able to successfully raise $28 million for development and commercialization of its ischemia monitoring device. The device is designed to provide early warning of a heart attack to patients.
According to a press release by the company, the additional round of funding includes existing investors and a new backer from SOAM Angel Partners. As a result of this additional investment, Dr. Victor Whitman has been added to the board at Angel Medical.
The Implantable ischemia monitoring system is dubbed the Guardian device. The Guardian device actively monitors patients for signs of a heart attack and has the ability to alert caregivers or other healthcare providers in the event of an emergency. According to information from the company, proceeds from the fundraising round will also go towards a Phase II pivotal trial of the device. In addition, some funding will be used for designing future ischemia monitoring devices.
Dr. David Fischell is CEO of Angel Medical. In prepared remarks, he said, We've made significant progress in our pivotal trial of the Guardian system, with more than 660 patients implanted with the device in the United States.” He continued, "This additional capital will enable us to continue study enrollment, and providing efficacy endpoints are met, file our premarket approval [application] in the coming year."