MedLumics closes upsized €18M ($21.7M) financing round and appoints new chairman

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MedLumics closes upsized €18M ($21.7M) financing round and appoints new chairman

Press releases may be edited for formatting or style | February 11, 2021 Cardiology
Madrid, Spain, 10 February 2021 – MedLumics, a privately held medical device company developing AblaView, the first optically-guided real-time ablation catheter system for the treatment of Atrial Fibrillation (AF), announced today that it has closed an upsized EUR 18 million (USD 21.7 million) financing round and has appointed Rich Ferrari as Chairman of the Board of Directors. MedLumics’ optical catheter displays lesion creation in real-time providing the physician with direct visual confirmation of conduction tissue denaturation.

Kurma Partners joined the round which includes and was initially led by Asabys Partners, along with new investors, VI Partners Swiss Innovation and CDTI Innvierte Economía, and existing investors Andera Partners, Caixa Capital Risc and Innogest Capital II. Having achieved pre-clinical feasibility in 2020, these proceeds will now enable MedLumics to initiate first in-human regulatory clinical studies and automate scalable product manufacturing.

Concurrent with the financing, Medlumics welcomes renowned venture capital investor Rich Ferrari as new Chairman of the Board of Directors. Mr. Ferrari brings to the team his wealth of experience in medical device innovation and commercialization as a successful CEO of two publicly traded medical technology companies and as co-founder and Managing Director of De Novo Ventures. Current Chairman Olivier Litzka of Andera Partners will assume the role of Vice Chairman.

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Commenting on the news, James Greene, CEO of MedLumics, said: “We are very please to have received funding from such a strong investment syndicate and I am delighted to welcome Rich Ferrari as Chairman to our Board. We are honoured to have attracted someone of his calibre and look forward to benefiting from his impressive experience to support MedLumics as we progress through our development towards market entry. I would like to give heartfelt thanks to Olivier Litzka for his advice and guidance these past years and we are very grateful for his continued support as Vice Chairman of the Board.”

Olivier Litzka, Partner at Andera Partners, commented: “We have seen an intensive and exciting period between 2017 and 2020, in which Medlumics has masterminded technically one of the most difficult to accomplish challenges in the electrophysiology lab by delivering a catheter which is capable of performing real-time lesion assessments during AF ablation. Following this achievement, we are in a favourable position to have attracted Rich Ferrari, an accomplished medtech entrepreneur, executive, board member and investor, and we look forward to moving towards clinical proof of concept under his Chairmanship.”

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