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May 28, 2019

CardioFocus lands $55M in funding for product launches

Courtesy CardioFocus The CardioFocus treatment uses a steerable sheath.

Marlborough cardiac device firm CardioFocus has completed a $55-million round of financing intended to accelerate the commercial introduction of a new generation of its flagship product. 

In a Tuesday announcement, CardioFocus said the proceeds will be used to speed up the commercial introduction of its HeartLight Endoscopic Ablation System and the global launch of of the HeartLight X3 System, the latter of which is only approved for sale in Europe.

The funding comes just weeks after the company announced results from a study of the HeartLight X3 system, which found that the device was more efficient and achieved results faster than other devices. 

"This substantial investment will enable broader adoption of the HeartLight System and support a successful commercial launch of the HeartLight X3 System globally," said Paul LaViolette, executive chairman of CardioFocus, in  a statement.

The company’s current institutional investors participated in the financing, including Kennedy Lewis Investment Management, which provided senior debt financing. 

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