Append Medical Completes $7.4M Million Series A Round
Funding Will Support the Company's First Clinical Trial on its Path to Regulatory Clearance
OR YEHUDA, Israel, Aug. 4, 2021 /PRNewswire/ -- Append Medical, developer of the first no-implant minimally invasive solution for transcatheter Left Atrial Appendage (LAA) exclusion, today announced the completion of a $7.4 million Series A financing round. The round will enable Append Medical to complete development and perform its first clinical trial.
Originally developed based on the research of Prof. Leonid Sternik from the Sheba Medical Center, the company was founded and led by Dr. Zachi Berger with seed investment from the MEDX Xelerator, a leading MedTech incubator in Israel.
"Append Medical brings an important innovation to the field of stroke prevention in atrial fibrillation patients", explains Prof. Horst Sievert "Its suture delivery system is the first ever to allow for minimally invasive exclusion of the left atrial appendage leaving only a suture lasso behind and no implant".
The financing round was led by unnamed strategic company and MedTecX LP along with other investors and included a $700K of matching grant from the Israeli innovation authority. They will join current investors such as Boston Scientific, MEDX Ventures, and Intellectual Ventures.
"This round will enable Append to continue developing its technology towards a clinical product. We are thrilled to see the accomplishment of the team so far", noted Shai Policker, CEO of the MEDX Xelerator and Append's Chairman.
"The growing problem of atrial fibrillation and the issues associated with anti-coagulants calls for innovation and we are happy to take part in supporting this important technology", added Lifei Cheng, CEO of MedTecX.
About Append Medical
Append Medical, founded in 2017, develops the Appligator – a tool designed to reduce stroke risk in AF patients by excluding the LAA to prevent blood clot leakage with a minimally invasive transseptal intervention leaving no implant behind. Append Medical is a member of MEDX Xelerator, a med-tech incubator formed as a collaboration between Boston Scientific, Intellectual Ventures, MEDX Ventures and Sheba Medical Center. Zachi Berger is Append Medical's CEO as well as a founder and an investor.
For more information, visit www.appendmedical.com
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About MEDX Xelerator
MEDX Xelerator is a leading medical device incubator formed as an initiative of MEDX Ventures Group together with Boston Scientific, Intellectual Ventures' Invention Science Fund and Sheba Medical Center. Operating under the auspices of the Israel Innovation Authority, MEDX leverages the healthcare expertise and industry experience of its team with the industry leading insights of its partners to nurture its portfolio companies into successful medical ventures for the benefit of patients and health care professionals. MEDX's portfolio companies includes: CAPS Medical,EndoWays , Append Medical, Exero Medical, PatenSee, Swift Duct, Dimoveo Medical and Synchrony Medical.
For more information, visit https://www.medxelerator.com/.
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Contact:
Inbal Landsberg, PhD
Chief Business Officer
[email protected]
SOURCE MEDX Xelerator
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