The Carillon Mitral Contour System. Credit: Business Wire / Cardiac Dimensions.

Cardiac Dimensions has raised $35m in Series D financing to support enrolment in the US EMPOWER pivotal study of the Carillon Mitral Contour System as well as its European commercial expansion.

Co-led by existing investor Horizon 3 Healthcare and an undisclosed strategic investor, the financing also witnessed participation from existing investors, including Hostplus, EQT Life Sciences, Arboretum Ventures, Lumira Ventures and M H Carnegie & Co.

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Using a gentle and minimally-invasive approach, the Carillon system aims to help restore natural mitral valve function without causing damage to the leaflets.

According to the company, the device induces favourable remodelling while lowering mitral regurgitation (MR).

It can also help enhance quality of life as well as expand survival for a broad swath of patients, including those with MR in the early stages.

Cardiac Dimensions will use the funds to recruit patients for its US EMPOWER study, which started late last summer.

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The patients will be recruited at leading US medical centres, including the Cleveland Clinic, Columbia University Medical Center and Ronald Reagan UCLA Medical Centre.

Furthermore, the company will use the funds to expand the Carillon device sales in various European countries, where it already has complete reimbursement.

Cardiac Dimensions CEO Rick Wypych said: “Having two high-quality co-lead investors, including a new strategic investor, as well as the continued financial support of all existing investors, continues to validate Cardiac Dimensions’ solution for heart failure patients suffering from mitral regurgitation.

“This funding will enable us to continue providing Carillon therapy to a large population of patients in dire need of treatment.”

The Carillon therapy was added to the European Society of Cardiology (ESC) Guidelines in 2021, enabling it to cover the diagnosis and treatment of acute and chronic heart failure to treat secondary mitral regurgitation (SMR).