CathWorks Announces $30 Million in New Financing

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Jan 07, 2021, 13:34 ET

KFAR-SABA, Israel and ALISO VIEJO, Calif., Jan. 7, 2021 /PRNewswire/ -- CathWorks reported the completion of a $30 million Series D financing round. Proceeds from the financing will be used to expand commercialization of the company's FFRangio system.

Jim Corbett, CathWorks CEO stated, "We are delighted to have received this round of funding, which included both new and existing investors. Our initial market launch demonstrated there is tremendous excitement around the clinical value of the CathWorks FFRangio™ System. This funding paves the way for continued commercialization and expanded access to the technology for physicians, hospitals and patients."

The CathWorks FFRangio System is a non-invasive diagnostic technology that is used at the time of a routine angiography. The CathWorks FFRangio System transforms routine angiogram images into objective and comprehensive physiology information, including color-coded 3D renderings of blood flow in the heart's arteries to help physicians optimize coronary artery disease decision making, including whether a stent is needed.

"The non-invasive FFRangio system has the potential to become standard of care, providing significant clinical and economic value," Mr. Corbett added. "We are very excited for this investment supporting FFRangio market expansion."

About CathWorks

CathWorks is a medical technology company focused on applying its advanced computational science platform to optimize Coronary Artery Disease (CAD) therapy decisions and elevate coronary angiography from visual assessment to an objective FFR-based decision-making tool for physicians. FFR-guided PCI decision-making is proven to provide significant clinical benefits for patients with coronary artery disease and economic benefits for patients and payers. The company's focus today is specifically on bringing the CathWorks FFRangio™ System to market to provide quick, precise, and objective intraprocedural wire-free FFR guidance that is practical for every case. For more information, visit www.cath.works.

Contact: Ben Brockman, (619) 985-9974, [email protected]

SOURCE CathWorks