June 30, 2020
Protaryx Receives Funding to Develop Technology for Left Atrial Access in Transcatheter Cardiac Procedures
June 30, 2020—Protaryx Medical announced that it has raised $8.3 million in funding to develop the company’s first-in-class device for precision transseptal access to the left atrium during structural heart and catheter ablation procedures.
According to the company, the Protaryx device is designed for use in catheter-based procedures such as mitral valve repair and replacement, left atrial appendage closure, and catheter ablation to treat cardiac arrhythmias. It is intended to provide confidence in accuracy and safety with independent steerability and three-dimensional control to streamline rapid crossing to the left heart. The Protaryx device is not available for sale anywhere in the world.
Protaryx cofounder James S. Gammie, MD, is Professor and Chief of Cardiac Surgery at the University of Maryland School of Medicine in Baltimore, Maryland.
“Transseptal access performed with today’s existing technology can be challenging, time-consuming, and difficult to learn, which creates a clear pain point for physicians,” commented Dr. Gammie in the company's announcement. “The innovative Protaryx device is designed with the goal of simplifying transseptal access for physicians, which may lead to fewer complications and improved outcomes for patients.” Dr. Gammie is also cofounder and inventor for Harpoon Medical, which was acquired by Edwards Lifesciences in 2017.
The company’s funding includes nondilutive grants and a seed round totaling $3.2 million and the recently closed $5.1 million Series A financing led by Ajax Health, with participation from the University of Maryland Ventures, a returning investor. Ajax Health's chief financial officer and managing director, Doug Koo, and chief medical officer and managing director, Aftab Kherani, will join the Protaryx Board of Directors.