EBAMed, a Geneva-based company developing a guidance system for the non-invasive treatment of heart arrhythmias through Proton Therapy raised 14.35 M € in Series A Funding. The funds will be used to bring EBAMed’s CardioKit system up to the completion of its First in Human trials.
Heart arrhythmias affect around 50 million individuals worldwide and are expected to grow in the next 50 years as the population ages. Ventricular arrhythmias affect the lower chambers of the heart and consist primarily of ventricular tachycardias, or VTs, and premature ventricular contractions, or PVCs. EBAMed’s CardioKit system is used for a non-invasive treatment of Ventricular Tachycardia through Proton Therapy. It automatically adjusts cardiac radiation ablation systems for cardiac motion and increases external beam delivery precision. The development of a radiation therapy approach, combined with a unique motion monitoring and gating solution, will fill an important need for alternatives to either drug therapy or catheter-based ablation, and for reduced radiation of healthy myocardium.
The financing round was led by Panakès Partners, a venture capital firm with headquarters in Milan, together with the EIC Fund, Swiss EFI Lake Geneva Ventures, LIFTT Venture Capital Italia, and OCCIDENT. The round was also supported by existing investors, including Mayo Clinic.
"I am thrilled by the successful completion of our Series A financing, which will enable us to advance the development of our Image Guidance System”, commented Giovanni Leo, Partner at EFI Lake Geneva Ventures I, co-founder, and Chairman of EBAMed SA. “I am especially excited by the recognition of our potential by investors in Italy. Headquartered in Switzerland, we are a Swiss/Italian reality, with Italian co-founders and a strong mix of Italian and Swiss directors on the Board. This allows us to derive synergies from a large, diverse talent pool. What's more, with the recent opening of a subsidiary in Milan, we are in a strong position to expand our operations into Italy.”
Barbara Castellano, Partner of Panakès Partners, added: “Cardiac arrhythmias are an increasing health problem worldwide and therapeutic options for ventricular tachycardia patients remain limited and suboptimal. Radio ablation using protons, combining respiratory and cardiac gating, represents a new precision medicine approach to treat this difficult patient population. We are extremely impressed by the EBAMed team and are very excited to support the company’s development of the CardioKit system.”
Marina Izzo, Chief Executive Officer of EBAMed, commented: “It is our mission to optimize radio therapy for Cardiac Indications. With recent exciting developments towards compensation for cardiorespiratory movements, we believe our technology has the potential to revolutionize the treatment of cardiac arrhythmias. The new funding will help us bring our groundbreaking technology to patients in need and become a key component in the future non-invasive ablation treatment pathway for life-threatening arrhythmias.”
(Press release / SK)
Please login or sign up to comment.
Commenting guidelines