Israeli-founded medical technology company CathWorks announced the completion of a $30 million Series C financing round led by American VC firm Deerfield Capital Management.
CathWorks develops devices for the interventional cardiology market and its FFRangio System, a non-invasive device that delivers FFR (Fractional flow reserve) guidance to optimize Percutaneous Coronary Intervention (PCI) therapy decisions, received FDA clearance in December.
FFRangio is derived from routine X-rays acquired during a diagnostic angiogram procedure and performed intra-procedurally during coronary angiography. The device provides a 3D reconstruction of the coronary tree with FFR values along each vessel.
CathWorks co-founder Guy Lavi said in a statement: “We are excited for the investment to support FFRangio market entry and continue with technical and clinical acceleration. As always, we want to thank our clinical development partners in Israel, the United States, and Europe for enabling us to reach this exciting milestone.”
“This funding, coupled with our recent FDA 510(k) clearance, paves the way for acceleration of our clinical and commercial activities in the United States,” said Jim Corbett, CathWorks CEO.
CathWorks was founded in 2013 and is headquartered in Kfar Saba. It has raised over $45 million to date.