Protaryx™ Medical, a company committed to reimagining access to the left atrium for transcatheter cardiac procedures, 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. The company’s funding includes non-dilutive grants and a seed round totaling $3.2 million and the recently closed $5.1M Series A financing led by Ajax Health, with participation from University of Maryland (UM) Ventures, a returning investor.
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, the Protaryx device is intended to provide physicians with confidence in accuracy and safety through independent steerability and three-dimensional control to streamline rapid crossing to the left heart.
“There is currently an opportunity for technologies that can optimize access to the left atrium during beating-heart cardiology procedures, a market that continues to see worldwide growth,” said Terri Burke, chief executive officer and co-founder of Protaryx. “We’re pleased to partner with the experienced team at Ajax Health to leverage its proven expertise and reputation for supporting successful emerging medical device companies.”
“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,” said Protaryx co-founder James S. Gammie, M.D., professor and chief of Cardiac Surgery at the University of Maryland School of Medicine as well as the co-founder and inventor for Harpoon Medical, which was acquired by Edwards Lifesciences in 2017. “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.”
In addition to the investment, Ajax Health leaders Doug Koo, chief financial officer and managing director, and Aftab Kherani, chief medical officer and managing director, will join the Protaryx Board of Directors.
“We are pleased to include Protaryx in the Ajax portfolio, and I’m personally excited to join the board to move this innovative company forward,” said Koo. “We have been impressed with the team and the potential of this unique technology to fill a growing clinical need in cardiovascular care.”
The Protaryx device is not available for sale anywhere in the world.