Atritech nets $30M to complete FDA review of Watchman device

Twitter icon
Facebook icon
LinkedIn icon
e-mail icon
Google icon

Atritech, a clinical-stage medical device company, has completed a $30 million round of financing, led by Thomas, McNerney & Partners along with an investment from Split Rock Partners and insider investments from Prism Ventures, Tullis-Dickerson and Vector Group.

Over the past three years, the Minneapolis-based company has raised approximately $75 million in capital.

With the new funding, the company said it will complete the FDA review of the PROTECT AF clinical trial results along with the commercial launch of the Watchman LAA closure technology in Europe. The trial was presented this week at the late breaking clinical trial session during the I2 summit, which was part of the 58th annual meeting of the American College of Cardiology (ACC) held this week in Orlando, Fla.

The PROTECT AF clinical trial evaluates the Watchman device compared to the current standard of care, warfarin, in patients with atrial fibrillation. In August 2008, Atritech filed its pre-market approval application (PMA) to the FDA. The company will present the PROTECT AF results to the FDA's Circulatory System Devices Panel on April 23. The Watchman device continues to be implanted in a continued access registry (CAP) while the product is under review at the FDA. To date, more than 110 devices have been implanted in CAP at approximately 20 sites in the U.S. and Europe.