CardioKinetix, a Redwood City, Calif. life sciences startup working on a heart-failure treatment that could potentially help over a million patients, has raised a third round of funding, according to VentureWire.
The company’s procedure uses a catheter to strengthen parts of the heart, and protect areas damaged following heart attacks. The device is designed to be an alternative to a risky surgery typically only used in high-risk patients.
Previous investors Cutlass Capital, JPMorgan Partners and U.S. Venture Partners led the $14.5 million round, which is intended to move CardioKinetix toward clinical trials. A new investor, Hambrecht & Quist Capital Management, also participated.