VytronUS, a Sunnyvale, Calif.-based medical device firm, has raised $31.6 million in Series B financing. The investors included Apple Tree Partners, BioStar Ventures, Windham Venture Partners and New Enterprise Associates. In addition to the funding, David McIntyre and Sami Hamade of Apple Tree Partners and Hank Kucheman of BioStar Ventures have been named to the VytronUS board of directors.
SUNNYVALE, Calif., Oct. 29, 2014 /PRNewswire/ — VytronUS, Inc. (“VytronUS”), a privately held medical device company developing novel technologies for the treatment of cardiac arrhythmias, announced today that it has secured $31.6 million in an oversubscribed Series B financing. The round was led by Apple Tree Partners, along with additional new investors, BioStar Ventures, Windham Venture Partners and a strategic investor alongside New Enterprise Associates and other existing investors. Proceeds will be used for development and validation of VytronUS’s proprietary Low-Intensity Collimated Ultrasound (LICU) Cardiac Imaging and Ablation System to treat atrial fibrillation and other arrhythmias in forthcoming clinical trials.
Joining VytronUS’s Board of Directors will be David McIntyre and Sami Hamade, representing Apple Tree Partners, as well as Hank Kucheman, representing BioStar Ventures.
“This financing is a significant milestone for VytronUS. In the last year, VytronUS has completed a human clinical series which demonstrated the feasibility of our approach to treating atrial fibrillation. This infusion of capital allows us to advance our next generation system,” said Michael Pederson, CEO of VytronUS. “We are excited to have Apple Tree Partners and the other new investors come on board. We look forward to benefiting from their experience as we develop our technology and commence the next stage of clinical trials.”