Med device startup Bardy Diagnostics says it has closed on a “significant round of growth capital” from several investors. Among them is Durham-based Square 1 Bank.
Bardy announced the funding Thursday but did not disclose the amount.
However, last October in a securities filings, Bardy said it had raised $27.6 million.
Bardy says the funds will be used to drive development and growth of its Carnation Ambulatory Monitor, an ambulatory ECG monitor which it touts as “the world’s smallest and lightest P-wave centric ambulatory cardiac monitor and arrhythmia detection device.”
The company launched in 2013. Its president and CEO, Jon Hunt, is also founder and managing director at Wyn River Ventures, an early growth venture capital firm investing in life science and IP wealthy companies.
SV Life Sciences Advisers, Health Enterprise Partners, and Ascension Ventures also participated in the financing.
“Through its clinically superior P-wave centri data capture, ergonomic engineering and design, and its flexibility to fit within varied healthcare workflows and business models, we’re confident that [the]CAM will be rapidly adopted as a standard of care and that it will further our mission of improving the clinical efficacy of ambulatory monitoring and patient health,” said Gust Bardy, a doctor who is the founder of BardyDx. “We’re very excited to add the expertise and capital of SVLS, HEP, AHV and Square 1 to our team and look forward to their support and assistance in executing the next phase of growth for the Company.”
