Append Medical, developer of a no metal implant minimally invasive solution for transcatheter Left Atrial Appendage (LAA) exclusion, has completed a $7.4 million Series A financing round. The round will enable the company to complete development and perform its first clinical trial.
Originally developed based on the research of Prof. Leonid Sternik from the Sheba Medical Centre, the company was founded and led by Dr. Zachi Berger with seed investment from the MEDX Xelerator, a medtech incubator in Israel.
Prof. Horst Sievert said: “Append Medical brings an important innovation to the field of stroke prevention in atrial fibrillation patients. Its suture delivery system is the first ever to allow for minimally invasive endovascular exclusion of the left atrial appendage leaving only a suture lasso behind and no metal implant.”
The financing round was led by MedTecX LP along with an unnamed strategic company and other investors and included a $700,000 of matching grant from the Israel Innovation Authority.
Shai Policker, CEO of the MEDX Xelerator and Append chairman, said: “This round will enable Append to continue developing its technology towards a clinical product. We are thrilled to see the accomplishment of the team so far.”
Lifei Cheng, CEO of MedTecX, added: “The growing problem of atrial fibrillation and the issues associated with anticoagulants calls for innovation and we are happy to take part in supporting this important technology.”
