CardioMEMS, a startup focused on developing wireless sensors for use in combating heart failure and other diseases, has closed on $33 million in new financing.
The Series E round included four additional investors.
Arcapita Ventures led the round. New investors include Deerfield Capital Management, Vision Capital Advisors, Aperture Venture Partners and Rockport Venture Securities.
Other investors participating included Boston Millennia Partners, Medtronic, Inc., Easton Capital Partners, Foundation Medical Partners, and Arboretum Ventures.
CardioMEMS had disclosed plans to go public in January. The firm is developing heart failure and hypertension sensors. It planned to trade on the Nasdaq. Banc of America Securities was the lead underwriter, but the company withdrew the IPO this summer. It had planned to raise $87 million in the offering.
“We are pleased with the continued support of Arcapita Ventures and our existing and new investors,” said Jay Yadav, chairman and chief executive officer at CardioMEMS. "This is a very exciting time for CardioMEMS as we conduct our randomized trial aimed at reducing heart failure hospitalizations with our wireless sensing technology. The absence of leads and batteries in our technology, we believe, provides a substantial safety advantage.”
CardioMEMS also named a new chief financial officer – Daniel Baurer, a former CFO with Granite City Food and Brewery.