Millions of people worldwide struggle with heart failure, often facing severe complications. For many, functional mitral regurgitation (FMR) worsens their condition, leading to frequent hospitalisations and reduced quality of life. The Carillon therapy offers a minimally invasive solution, helping patients regain better heart function without damaging mitral valve leaflets. Cardiac Dimensions addresses this issue with the Carillon Mitral Contour System — a minimally invasive device that reshapes the mitral valve annulus, improving valve function and reducing regurgitation.
Cardiac Dimensions, a leader in minimally invasive heart failure treatments, has raised $53M in an oversubscribed Series E funding round to advance its minimally invasive Carillon Mitral Contour System for heart failure treatment and expand global commercialisation efforts. Led by Ally Bridge Group, the investment also saw strong participation from existing backers, reinforcing confidence in the company’s innovative Carillon Mitral Contour System.
This latest funding round builds upon previous successful rounds, including a $35 million Series D funding in January 2023 and a $39 million Series B financing in April 2018. The company has raised approximately $214.76 million in total funding, establishing a solid financial foundation for its ambitious clinical and commercial objectives.
Strategic funding fuels Cardiac Dimensions expansion
This latest funding round will drive two critical initiatives. It will complete the U.S. pivotal EMPOWER Trial. It will also expand global commercialisation. Ally Bridge Group took the lead. New investor Claret Capital Partners joined forces with existing investors. These include Hostplus, M.H. Carnegie, Horizon 3 Healthcare, Lumira Ventures, and a confidential strategic backer.
Rick Wypych, president and CEO of Cardiac Dimensions, highlighted the significance of the investment. “Cardiac Dimensions is uniquely positioned to provide a safe, simple, and effective solution for heart failure patients suffering from FMR. A financing of this magnitude reflects the strong conviction of Ally Bridge, as well as our existing insiders, in the Carillon therapy’s ability to play a central role in the treatment of this high-need patient population.”
“With these additional resources, we are also well-positioned to continue our global commercial expansion of the Carillon therapy to improve the lives of patients with this debilitating disease.” Wypych added.
A new dimension in cardiac failure treatment
Founded in 2001 by Scott Wolf, Cardiac Dimensions was established to improve the treatment of heart failure, particularly focusing on developing minimally invasive therapies for conditions like functional mitral regurgitation (FMR). The company aims to provide effective solutions that work with the natural structure and function of the heart, addressing unmet needs in heart failure treatment.
The end goal of Cardiac Dimensions is to establish its technologies, such as the Carillon Mitral Contour System, as first-line therapies for heart failure patients. The company seeks to provide customer-valued solutions that combine efficacy, simplicity, and safety, thereby improving the quality of life for patients with heart failure
The company’s flagship product, the Carillon Mitral Contour System, represents a significant innovation in treating FMR, a condition affecting up to 70% of heart failure patients. This right-heart transcatheter mitral valve repair (TMVr) device is specifically designed to treat the primary cause of FMR in patients with mitral regurgitation grades 2+, 3+ and 4+.
What differentiates the Carillon system is its non-invasive approach that preserves the natural structure of the mitral valve while improving function. Clinical evidence has demonstrated the system’s effectiveness, with a study led by Prof. Dr. Andreas Hagendorff showing “acute reduction in regurgitant fraction in 83% of patients, as documented by transthoracic echo after device implantation”. This represents a substantial improvement for patients who previously had limited therapeutic options.
The Carillon device restores mitral valve function while promoting favourable left ventricular remodelling. Clinical studies have demonstrated that Carillon therapy reduces mitral regurgitation, improves quality of life, and extends survival rates. Moreover, patients in earlier stages of FMR can use this therapy without limiting future treatment options.
Steve Plachtyna of Ally Bridge Group, now a member of Cardiac Dimensions’ board, expressed enthusiasm about the company’s progress. “We are excited to lead this financing to help support Cardiac Dimensions’ significant advancements in the treatment of heart failure patients with FMR. We have been impressed with the progress the company has made over the past several years in both their clinical efforts and their expansion of commercial sales outside the U.S. This financing will fund and accelerate both of these efforts.”
Paving the way for global impact
FMR is a widespread condition, affecting up to 59% of heart failure patients. Without treatment, it leads to frequent hospital stays and increased mortality. The EMPOWER Trial’s completion will be a significant milestone, potentially bringing the Carillon Mitral Contour System closer to widespread U.S use.
The EMPOWER Trial represents a landmark in cardiovascular research as it employs a blinded, randomised, sham-controlled methodology — the only such study performed in the mitral valve space. The study design was informed by extensive analysis of data from more than 250 patients previously enrolled in four similar trials.
“Consistent with prior trials, Cardiac Dimensions will use third-party monitoring, core lab review and external safety reviews, which will produce the most scientifically rigorous clinical data to date in the investigation of heart failure patients with FMR,” notes the company in their trial announcement.
Cardiac Dimensions operates in Kirkland, Washington, Sydney, and Frankfurt, advancing minimally invasive solutions for cardiovascular diseases. The latest funding marks a critical step forward in its mission to improve heart failure treatment worldwide.
The post Cardiac Dimensions secures $53M bringing a new dimension to heart failure treatment appeared first on Tech Funding News.