Pulsed Field Ablation Innovator Argá Medtech Announces €54 Million Oversubscribed Series B Capital Raise

- Funding will advance US and EU clinical studies of innovative pulsed field ablation system for treating atrial fibrillation -

- Funding will advance US and EU clinical studies of innovative pulsed field ablation system for treating atrial fibrillation -

LAUSANNE, Switzerland and SAN DIEGO, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Argá Medtech, a private company developing Coherent Sine-Burst Electroporation™ (CSE™), a next-generation cardiac ablation system for treating cardiac arrhythmias, including atrial fibrillation (AF), today announced the closure of a €54M oversubscribed Series B funding. The round was led by the existing investors, Advent Life Sciences (UK) and Earlybird Health (Germany), as well as new investor Gilde Healthcare (the Netherlands) and an undisclosed strategic investor. The financing enables Argá Medtech to advance the development of its innovative CSE™ Pulsed Field Ablation (PFA) system for treating AF through the execution of an IDE study in the US and a CE Mark study in the EU. With the funding, the company will also expand its US offices in San Diego, CA, in anticipation of its US clinical activities.  

“We are pleased to secure the support of such marquee investors who believe that Argá Medtech will revolutionize the atrial fibrillation ablation field,” said David Neale, CEO of Argá Medtech. “This financing enables us to advance toward our goal of validating the CSE™ PFA system in Europe and the US as we work to deliver a safe, fast, and effective treatment to millions of people affected by cardiac rhythm disorders and atrial fibrillation. We are proud of our accomplishments to date, including conducting a 48-patient first-in-human study in Europe, which demonstrated the high performance of our platform in treating atrial fibrillation.”

Argá Medtech’s CSE™ ablation system enables electrophysiologists to treat any region in the heart safely and efficiently using a single, multi-configurable catheter while titrating lesion depths according to the location within the heart.

The company’s CSE™ PFA platform combines its proprietary CSE™ PFA generator with a multi-configurable catheter to provide unmatched flexibility in AF treatment. Argá Medtech’s CSE™ system uses a sinusoidal/sine wave, while other PFA platforms are typically powered by square wave energy sources. This approach offers several advantages, such as allowing physicians to configure the energy delivery and titrate the depth to the location in the heart. Additionally, the waveform is delivered through a versatile, all-in-one catheter that can be shaped to create circular, linear, or focal ablation lesions, eliminating the need to perform catheter exchanges to achieve the desired lesion set. Thus, the procedure is simplified, reducing the risk of introducing air bubbles as one catheter is removed and another is reinserted, as well as reducing costs.

AF is the most common heart arrhythmia, affecting about 38 million patients worldwide¹, rendering them five times more likely to have a stroke.² While ablation using thermal energy has proven effective in alleviating AF symptoms, higher risks are associated with its use.³ In contrast, PFA energy delivery offers a tissue-selective, precise ablation of the intended heart tissue while preserving nearby tissues and minimizing the risks of thermal injury, such as those to the esophagus or the phrenic nerve.

About Argá Medtech SA

Argá Medtech SA is developing a Coherent Sine-Burst Electroporation™ (CSE™), Pulsed Field Ablation (PFA) system to treat patients with cardiac arrhythmias. Argá Medtech is setting the standard for the next-generation PFA systems with its versatile catheter design able to create circular, linear, and focal lesions, coupled with a unique CSE™ PFA waveform that allows energy titration based on tissue depth to achieve durable lesions. The company was co-founded in June 2020 by veteran medical device executive David Neale, CEO, and serial entrepreneur Randy Werneth, CTO, and has offices in Lausanne, Switzerland and San Diego, CA, USA. With over 50 years of combined experience in creating and commercializing cardiac and arrhythmia management products, the leadership team is well connected in electrophysiology and understands the current challenges faced by physicians and patients.

To learn more, visit https://argamedtech.com.

References:

1. Lippi, Giuseppe et al. “Global epidemiology of atrial fibrillation: An increasing epidemic and public health challenge.” International journal of stroke: official journal of the International Stroke Society vol. 16,2 (2021): 217-221. doi:10.1177/1747493019897870. https://pubmed.ncbi.nlm.nih.gov/31955707/
2. World Stroke Organization. Stroke and Atrial Fibrillation. Accessed February 16, 2024. https://www.world-stroke.org/world-stroke-day-campaign/prevent-stroke/stroke-and-atrial-fibrillation
3. Aldaas OM, Malladi C, Aldaas AM, Han FT, Hoffmayer KS, Krummen D, Ho G, Raissi F, Birgersdotter-Green U, Feld GK, Hsu JC. Safety and acute efficacy of catheter ablation for atrial fibrillation with pulsed field ablation vs thermal energy ablation: A meta-analysis of single proportions. Heart Rhythm O2. 2023 Sep 12;4(10):599-608. doi: 10.1016/j.hroo.2023.09.003. PMID: 37936671; PMCID: PMC10626185. https://pubmed.ncbi.nlm.nih.gov/37936671/
   

Media Contact:

Finn Partners
Glenn Silver
glenn.silver@finnpartners.com

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