Galaxy Medical Receives $18 Million from ATP to Advance Development of Its Novel Pulsed Electric Field Ablation Therapy for Cardiac Arrhythmias
Galaxy's proprietary CENTAURI™ system on track for EU registration and US pivotal trial start later this year; shows best-in-class potential
SAN CARLOS, Calif., March 16, 2021 /PRNewswire/ -- ATP, a leader in life science venture capital, announced today $18M in Series A financing for its portfolio company Galaxy Medical, Inc. The funds are being used to advance the development of Galaxy's flagship product CENTAURI™, which uses Pulsed Electric Field (PEF) technology to treat cardiac arrhythmias.
"Pulsed electric field ablation is a game-changing intervention in cardiac arrhythmias, and the Galaxy CENTAURI system has distinct advantages that should make it a best-in-class entry in this category," said Seth Harrison, M.D., founder and managing partner of ATP and a member of the Galaxy Medical board of directors.
PEF treats arrhythmias by delivering quick, non-thermal bursts of high-voltage, high-frequency energy to ablate the heart. Two major inventions are unique to the CENTAURI PEF system:
- The proprietary WAVE1 waveform reduces muscle stimulation and eliminates microbubbles seen with other PEF ablation products that can cause strokes.
- The proprietary CENTAURI Connect box allows physicians to perform PEF ablation procedures with focal catheters and mapping systems they currently use for routine radiofrequency procedures, saving training time, workflow adjustments, and cost.
To date, 50 patients have been treated with CENTAURI in a registrational trial in Europe called ECLIPSE-AF. Galaxy Medical plans to submit data on the 50 subjects for CE Mark in Europe.
The Series A funding from ATP will enable Galaxy Medical to complete enrollments in the ECLIPSE-AF trial currently underway in Europe, to launch a study of CENTAURI in Canada called SPACE-AF, and to commence a pivotal US trial later this year pending FDA signoff. The financing will also support preparations for Galaxy's planned commercial launch of CENTAURI to European medical centers later in 2021.
"We are excited about the rapid progress of our clinical trials, encouraged by the highly positive results to date, and bolstered by the funding and vote of confidence from ATP," said Jonathan Waldstreicher, M.D., CEO of Galaxy Medical and a partner at ATP. "Millions of people worldwide suffer from cardiac arrhythmias, and we believe that CENTAURI has the potential to help many of them resume lives free from debilitating symptoms and life-threatening risks."
CENTAURI is an investigational device and not commercially available.
About Galaxy Medical
Galaxy Medical (www.galaxymed.com) is a privately held medical device company based in San Carlos, CA, that is dedicated to developing therapies to treat patients with cardiac arrhythmias. Formed by ATP, a leader in life sciences venture capital, Galaxy is building a portfolio of technologies to address the needs of cardiac electrophysiologists.
Founded in 1999, ATP is a leader in life sciences venture capital, with $2.65 billion in committed capital and offices in New York, London, San Francisco, and Cambridge, MA. ATP creates companies starting at various stages, from pre-IP ideas to asset spinouts, investing in them from seed stage through IPO and beyond. The core of ATP's strategy is to provide flexible capital and access to a world-class team of venture partners and EIRs, to build sustainable, research-driven enterprises that improve human lives. For more information, visit www.appletreepartners.com.
Galaxy Medical: Michael Iversen / firstname.lastname@example.org / +1 520 400 9190
ATP: Sally Jacob / email@example.com / +1 805 338 9603