Conformal Medical Announces $9 million Series B Financing

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Dec 03, 2018, 10:10 ET

NASHUA, N.H., Dec. 3, 2018 /PRNewswire/ -- Conformal Medical, Inc., developer of the Conformal Left Atrial Appendage Seal for LAA occlusion, has secured $9 million in Series B funding. Conformal is developing proprietary seal technology for the prevention of stroke in patients with atrial fibrillation (AFib).

Over five million people in the United States have AFib, putting them at increased risk of stroke. The current standard of care is blood thinners, which are associated with harmful bleeding. The left atrial appendage (LAA) is a blind pouch in the upper heart chamber where clots associated with stroke in AFib patients form. Sealing this pouch removes the need for anticoagulants.

"LAA closure is changing our approach to stroke reduction for AFib patients," said William A. Gray, MD, interventional cardiologist and System Chief of the Division of Cardiovascular Disease at Main Line Health in Philadelphia. "First generation devices have limitations. The novel Conformal system is designed to be easier to deliver and provide a better seal, as has been borne out in pre-clinical studies. These advances should allow us to treat a larger spectrum of patients."

The Series B round was led by Catalyst Health Ventures (Braintree, MA) and includes a supportive group of Series A investors.

"We are thrilled to join this exciting company as they bring the Conformal device through the clinic and to market," said Josh Phillips, Managing Partner of Catalyst Health Ventures. Mr. Phillips will be joining Conformal's board of directors. "This technology promises to bring significant benefit to the large population of patients with atrial fibrillation."

The Conformal device is designed to adapt to the unique shape of each patient's LAA. Compared to existing devices, it is designed to be simpler to place, require less imaging, and eliminate the need for general anesthesia.

"This financing will allow us to validate our novel sealing technology in human trials," said Conformal CEO Andy Levine. "We are pleased to have Catalyst join our strong investor base, which continues to reflect confidence in our approach to treating this serious medical condition."

About Conformal Medical

Conformal Medical, Inc. is an early stage medical device company founded in 2016 to develop devices to prevent stroke in patients with non-valvular atrial fibrillation. The Company's proprietary technology will help left atrial appendage closure to meet its true potential. For more information, email [email protected].

Contact: Acom Healthcare
Phone: 781-749-9290
Email: [email protected]

SOURCE Conformal Medical, Inc.