Atraverse Medical Secures $29 Million Funding for HOTWIRE™ Technology Expansion
Atraverse Medical, a San Diego-based company renowned for its cutting-edge transseptal access technology, recently announced the successful closure of a follow-on financing round raising $29.4 million. This investment will be pivotal in accelerating their commercial initiatives, scaling manufacturing processes, and launching new products within their research and development pipeline. The recent funding follows a prior seed investment of $12.5 million aimed at achieving FDA 510(k) clearance and initiating early commercialization of their groundbreaking product, HOTWIRE™. The overall capital raised now exceeds $40 million.
The HOTWIRE™ transseptal access system is engineered to simplify procedures by ensuring universal sheath compatibility and a zero-exchange workflow. Furthermore, its design incorporates advanced features such as enhanced echogenicity and improved rail stiffness, making it a critical component of Atraverse Medical's U.S. commercialization strategy.
John Slump, the CEO and President of Atraverse Medical, referred to this financial milestone as a significant turning point, marking their transition from a startup to an emerging growth company. "We're scaling manufacturing, expanding our team, and investing in new product development to expand the HOTWIRE™ platform," he stated.
Joining investors such as angel investors, family offices, and seasoned medtech entrepreneurs, Slump believes that HOTWIRE™ represents a new benchmark in left-heart access procedures. Jean-Luc Pageard, an established entrepreneur and innovator in the electrophysiology field, noted the transformative potential of HOTWIRE™, emphasizing that it not only enhances existing procedures but could redefine the standard approaches in the medical landscape.
Dr. Vivek Y. Reddy, Director of Cardiac Arrhythmia Services at Mount Sinai Hospital, echoed this sentiment, stating, "HOTWIRE™ delivers clinically significant advantages over currently available devices for left-heart access, and we are eager to be among the initial adopters."
Since obtaining FDA clearance in May 2024, HOTWIRE™ has successfully completed nearly 1,000 procedures across ten different introducer sheaths. Known for enabling seamless left-heart access and functioning as a rail for catheter-based therapies, the device is poised to improve procedural workflows significantly and contribute to superior patient outcomes.
Atraverse Medical aims to establish its HOTWIRE™ system as an essential tool in the treatment of cardiovascular diseases, impacting countless patients globally. Formed in July 2022 by Dr. Steven Mickelsen, John Slump, and Eric Sauter, Atraverse continues to build on the expertise of its founding team that previously developed FARAPULSE, which was acquired in June 2021. The company’s innovative efforts in transseptal access technology strive to enhance clinical outcomes and streamline operational workflows, ultimately revolutionizing treatment for thorough patient care.
In summary, Atraverse Medical's commitment to its HOTWIRE™ platform is a testament to its innovative spirit and dedication to addressing significant medical challenges. As the company gears up for further product launches and enhanced manufacturing capabilities, the future looks promising for both Atraverse and the patients it aims to serve.
The HOTWIRE™ transseptal access system is engineered to simplify procedures by ensuring universal sheath compatibility and a zero-exchange workflow. Furthermore, its design incorporates advanced features such as enhanced echogenicity and improved rail stiffness, making it a critical component of Atraverse Medical's U.S. commercialization strategy.
John Slump, the CEO and President of Atraverse Medical, referred to this financial milestone as a significant turning point, marking their transition from a startup to an emerging growth company. "We're scaling manufacturing, expanding our team, and investing in new product development to expand the HOTWIRE™ platform," he stated.
Joining investors such as angel investors, family offices, and seasoned medtech entrepreneurs, Slump believes that HOTWIRE™ represents a new benchmark in left-heart access procedures. Jean-Luc Pageard, an established entrepreneur and innovator in the electrophysiology field, noted the transformative potential of HOTWIRE™, emphasizing that it not only enhances existing procedures but could redefine the standard approaches in the medical landscape.
Dr. Vivek Y. Reddy, Director of Cardiac Arrhythmia Services at Mount Sinai Hospital, echoed this sentiment, stating, "HOTWIRE™ delivers clinically significant advantages over currently available devices for left-heart access, and we are eager to be among the initial adopters."
Since obtaining FDA clearance in May 2024, HOTWIRE™ has successfully completed nearly 1,000 procedures across ten different introducer sheaths. Known for enabling seamless left-heart access and functioning as a rail for catheter-based therapies, the device is poised to improve procedural workflows significantly and contribute to superior patient outcomes.
Atraverse Medical aims to establish its HOTWIRE™ system as an essential tool in the treatment of cardiovascular diseases, impacting countless patients globally. Formed in July 2022 by Dr. Steven Mickelsen, John Slump, and Eric Sauter, Atraverse continues to build on the expertise of its founding team that previously developed FARAPULSE, which was acquired in June 2021. The company’s innovative efforts in transseptal access technology strive to enhance clinical outcomes and streamline operational workflows, ultimately revolutionizing treatment for thorough patient care.
In summary, Atraverse Medical's commitment to its HOTWIRE™ platform is a testament to its innovative spirit and dedication to addressing significant medical challenges. As the company gears up for further product launches and enhanced manufacturing capabilities, the future looks promising for both Atraverse and the patients it aims to serve.
Topics Health）
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