A Washington-based medical technology company has secured $53 million in new funding to advance its innovative heart valve treatment system. Cardiac Dimensions, headquartered in Kirkland, will use the capital to expand the global commercialization of its Carillon Mitral Contour System, bringing its total funding to over $200 million.
The company specializes in treating mitral valve regurgitation, a cardiac condition where blood leaks backward through the heart’s mitral valve when the left ventricle contracts. This condition can result in heart enlargement and is commonly associated with congestive heart failure. The Carillon system offers a minimally invasive approach to addressing this problem by tightening the leaky valve.
Rick Wypych, who has served as CEO and president since 2020, emphasized that the new funding will help bring their therapeutic solution to more patients suffering from this debilitating condition. Prior to his role as chief executive, Wypych held positions as both chief operating officer and chief financial officer at the company.
The medical device manufacturer has demonstrated its commitment to rigorous clinical validation through four completed trials examining the safety and effectiveness of its technology. The most recent trial was particularly noteworthy as it employed a fully randomized, blinded, sham-controlled methodology. Currently, the company is recruiting patients for a fifth trial, which will include study sites in the United States and other locations.
While the Carillon system has received approval for sale in Europe and nations that recognize European medical device certifications, it remains classified as an investigational device in the United States and Canada, limited to research applications only.
Founded in 2001, Cardiac Dimensions maintains a significant
international presence with operations in Sydney and Frankfurt. The company employs approximately 65 people, with one-third of its workforce based in European locations. The organization’s medical expertise is bolstered by Dr. Steven Goldberg, who serves as chief clinical officer. Before joining Cardiac Dimensions, Dr. Goldberg was an associate professor at UW Medicine and directed its cardiac catheterization laboratory. He currently practices as an
interventional cardiologist at Benefis Medical Center in Great Falls, Montana.
The recent Series E funding round was spearheaded by Ally Bridge Group and welcomed new investor Claret Capital Partners. Several existing investors also participated in the round, including Hostplus, M.H. Carnegie, Horizon 3 Healthcare, and Lumira Ventures, along with an unnamed strategic investor.
As the company continues to advance its technology and expand its market presence, this latest investment represents a significant vote of confidence in its approach to treating mitral valve regurgitation. The funding will support ongoing research efforts and help bring this innovative cardiac treatment to more patients globally who could benefit from the technology.
The success of Cardiac Dimensions reflects the growing interest in medical technologies that offer less invasive alternatives to traditional surgical procedures. By developing a system that can treat heart valve problems through minimal intervention, the company is positioning itself at the forefront of cardiac care innovation, particularly in addressing a condition that affects a significant patient population worldwide.