SAN DIEGO--(BUSINESS WIRE)--Topera, Inc., a medical device company that has developed a novel mapping and targeting system for the identification of the sources that sustain complex cardiac arrhythmias, including atrial fibrillation, today announced it has completed a $25 million Series C financing round. The round was led by new investor New Enterprise Associates (NEA) with the participation of a new strategic industry partner along with existing investors and the company’s management team. Proceeds will be primarily used to support the planned 2013 commercial launch of the company's RhythmViewTM WorkStation and FIRMapTM Catheter in Europe and the U.S., and to further advance the company’s R&D pipeline and clinical development program. In conjunction with the financing, NEA partner Justin Klein, M.D., has joined the Topera Board of Directors.
“We are pleased to partner with this experienced group of investors as we continue our mission to help clinicians obtain information about the sources sustaining complex arrhythmias to significantly improve long-term patient outcomes while reducing costs to providers and the healthcare system," said Edward Kerslake, CEO of Topera.
Commenting on NEA’s participation in the financing, Dr. Klein stated, “We have closely followed the rapidly changing field of atrial fibrillation, including the understanding of the mechanisms that sustain cardiac arrhythmias and especially the opportunity to improve clinical outcomes and health economics through next generation 3D mapping. With its game-changing technology, extensive intellectual property, and commitment to rigorous clinical science, we believe Topera’s leadership in this field positions them well to build a valuable new franchise in electrophysiology.”
“With NEA’s long track record of building great companies around transformative innovations, we believe this financing will support an exciting next chapter in Topera’s growth,” said Art Taylor, Chairman of the Topera Board of Directors.
About Atrial Fibrillation
According to the Heart Rhythm Society, atrial fibrillation is the most common sustained heart rhythm disorder in the United States. An estimated 6-7 million people worldwide suffer from atrial fibrillation, and the prevalence of disease in the United States is projected to increase from about 3.4 million to 8-12 million over the next 30 to 40 years. In atrial fibrillation, the electrical signals that coordinate contractions of the heart become rapid and disorganized, resulting in an irregular heartbeat that can increase the risk of stroke by fivefold. It is estimated that the global market for medical devices used in atrial fibrillation ablation, including diagnostic and ablation catheters as well as mapping and navigation systems, was approximately $2.5 billion in 2012.
About Topera, Inc.
Topera Medical (Topera, Inc.), a venture-backed medical device company, has developed a novel 3D analysis and mapping system to assist electrophysiologists in the identification of the electrical source of complex cardiac arrhythmias. The Topera System, which consists of the RhythmView Workstation and the FIRMap diagnostic catheter, is designed to improve patient outcomes by enabling electrophysiologists to view a dynamic representation of the electrical activity of the heart, supporting the diagnosis of and treatment planning for a variety of arrhythmias including atrial fibrillation, atrial flutter, atrial tachycardia, and ventricular tachycardia. For additional information, visit www.toperamedical.com.
* The RhythmView Workstation is 510(k) cleared by the FDA.
* The FIRMap Catheter is pending 510(k) clearance and is not available for sale.
* CE Marks for both the RhythmView Workstation and the FIRMap Catheter are currently pending.
About NEA
NEA is a leading venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With about $13 billion in committed capital, the firm invests in information technology, healthcare and energy technology companies at all stages in a company's lifecycle, from seed stage through IPO. NEA's long track record of successful investing includes more than 170 portfolio company IPOs and more than 290 acquisitions. For additional information, visit www.nea.com
