Atraverse Medical, a medical device company pioneering next-generation transseptal access technology, announced the closing of a $29.4 million follow-on financing to advance growth.
Momentum: The raise builds upon $12.5 million in prior seed investment that was used to obtain FDA 510(k) clearance and begin early commercialization of HOTWIRE, which is the company’s novel radiofrequency (RF) guidewire for left-heart access. The company has now raised over $40 million of investment capital.
Designed for simplifying left-heart access through universal sheath compatibility and a zero-exchange workflow, and engineered for enhanced echogenicity and increased rail stiffness HOTWIRE is the focus of the company’s current U.S. commercialization strategy.
HOTWIRE: Cleared by the FDA in May 2024, HOTWIRE is approaching its first 1,000 successful procedures across 10 different introducer sheaths as part of a limited market release. And the device enables zero-exchange left-heart access and serves as a rail for catheter-based therapies. With universal sheath compatibility, HOTWIRE was designed to advance transseptal access technology, optimize procedural workflows, and support improved patient outcomes with a platform for left-heart access.
KEY QUOTES:
“This financing is a major milestone for Atraverse and underscores our evolution from a startup company to an emerging growth corporation. We’re scaling manufacturing, expanding our team, and investing in new product development to build on the HOTWIRE platform. Our investor syndicate includes angel investors, family offices, and medtech entrepreneurs who share our conviction that HOTWIRE is setting a new standard as the future of left-heart access.”
John Slump, CEO/President and Co-Founder of Atraverse Medical
“The most transformative medical technologies don’t just improve procedures—they reimagine entire categories. HOTWIRE is redefining how physicians approach left-heart access. I invested in Atraverse because the company is developing a scalable, category-shaping innovation that is likely to become the new standard of care for left-heart access.”
Jean-Luc Pageard, a seasoned entrepreneur, investor, and pioneering innovator of cryoballoon ablation, PFA and other groundbreaking technologies in the electrophysiology and cardiology arena
“HOTWIRE delivers clinically significant advantages over existing left-heart access devices, and we are excited to be an early adopter and commercial customer.”
Dr. Vivek Y. Reddy, Director of Cardiac Arrhythmia Services at Mount Sinai Hospital, New York, and co-author on studies regarding the clinical experience of HOTWIRE
