EQS-News: Volta Medical secures €36 million in Series B funding to support the launch of its AI software for cardiac ablation and announces new CFO | news

Volta Medical secures €36 million in Series B funding to support the launch of its AI software for cardiac ablation and announces new CFO

• New round of funding led by Vensana Capital supports technology platform expansion and further validation of VX1, Volta’s decision-support AI software to improve catheter ablation for complex cardiac arrhythmias

• John Slump, a successful executive in medical technology, becomes the new Chief Financial Officer

Marseille (France), January 5, 2023 – Volta Medical, an innovative HealthTech company developing artificial intelligence (AI)-based solutions that help electrophysiologists treat complex cardiac arrhythmias such as atrial fibrillation, announced the closing of a new €36 million Series B financing increased the total capital raised by Volta Medical to over 70 million euros.

The financing round was funded by Vensana Capital based in the USA and led by Lightstone Ventures and the existing investor Gilde Healthcare co-financed. The funding will help accelerate new product development, support additional clinical trials, prepare for broad commercialization in the US, and obtain additional regulatory approvals. The company’s flagship product, VOLTA VX1, is the first commercially available AI-based decision-support software solution (“AI Decision Support Software’) that guides physicians in real-time to identify and annotate specific abnormalities (so-called “dispersed electrograms”) on 3D anatomical and electrical maps of the heart. This technology may ultimately enable optimized catheter ablation procedures for complex arrhythmias, including persistent atrial fibrillation.

“There is an urgent need to improve the precision and consistency of cardiac ablation procedures in patients with persistent atrial fibrillation,” said Theophile Mohr DurdezCEO and co-founder of Volta Medical. “With half of these patients requiring repeat treatment, treating physicians need tools that can help them better understand the disease and dramatically improve patient outcomes. We believe VOLTA VX1 has the potential to do just that in a consistent, reproducible manner. We are very grateful to the Vensana, Lightstone and Gilde teams for their support and trust in our partnership to further validate our products and expand access to our software globally.”

“Volta Medical’s technology is designed to redefine the way electrophysiologists make real-time decisions in identifying areas relevant to atrial fibrillation persistence,” added dr Justin Klein, co-founder and managing partner of Vensana Capital. “We applaud the team’s commitment to validate its products through investments in multiple high quality clinical trials and are confident that Volta’s innovative AI software will fundamentally transform the effectiveness and efficiency of these challenging procedures.”

Volta Medical also announces the appointment of John Slump as Volta Medical’s Chief Financial Officer (CFO). John is a seasoned medical device executive and a proven industry insider. As Founder and CFO, he has successfully led multiple MedTech companies – from concept through regulatory approval and commercial growth to strategic acquisitions. Most recently, he was CFO of Surgical Innovation Associates, a fast-growing reconstructive and plastic surgery medical technology company that was acquired by Integra LifeSciences. Previously, he co-founded FARAPULSE, an electrophysiology medical device company that pioneered the development of novel pulsed field ablation technology and was acquired by Boston Scientific in 2021. Previously, John served as CFO of Attune Medical, an emerging medical technology company that markets proprietary esophageal temperature management devices for electrophysiology and other surgical markets.

“I am excited to join the Volta Medical team. Our ability to raise significant investments from both new and existing investors in an increasingly difficult capital market environment is a major achievement,” said John Slump. “VOLTA VX1 has the potential to transform the lives of millions of people living with atrial fibrillation, and this Series B funding will help accelerate its development and launch nationally and globally.”

Note: Please note that the official press release is the company’s English language release. The translation above is for the convenience of providing information only.

About Volta Medical
Volta Medical is a health tech company that develops artificial intelligence (AI)-based software solutions that assist electrophysiologists in cardiac procedures treating cardiac arrhythmias to improve clinical outcomes for patients.

Founded in 2016 by three physicians and a data scientist in Marseille, France, the company has an overarching goal of significantly improving the management of cardiac arrhythmias. To do this, the company develops state-of-the-art, data-driven medical devices based on large databases of procedural data in compliance with the highest data protection standards. The company’s first product, VX1, a digital, AI-based device and algorithm, that assists cardiologists in real-time during surgery to identify specific abnormal electrograms (EGMs), known as dispersed electrograms.

For more information, visit the company’s website at www.volta-medical.com.

About Vensana Capital
Vensana Capital is a venture capital and growth private equity firm that partners with entrepreneurs seeking to transform healthcare with breakthrough innovations in medical technology. Founded in 2019, Vensana has $550 million in capital under management. Vensana actively invests in development and commercial-stage companies across the medtech sector, including medical device manufacturers, diagnostics and data science, life science tools, digital health and technology-enabled services. Vensana’s investment team has a long history of successful partnerships with the management of industry-leading companies including Cameron Health, CardiAQ, Cartiva, CV Ingenuity, Epix Therapeutics, Inari Medical, Intact Vascular, Lutonix, Neuwave Medical, Personal Genome Diagnostics, Sequent Medical, Topera , Ulthera, Veran Medical Technologies, Vertiflex and Vesper Medical. Learn more at www.vensanacap.com.

About Lightstone Ventures
Lightstone Ventures is a global venture capital firm that invests in biotechnology and medtech companies with breakthrough ideas that have the potential to transform patient outcomes. Lightstone Ventures was founded in 2012 with a mission to provide visionary entrepreneurs with the resources and operational support they need to bring their innovative therapeutics and technologies to the patients who need them most. Lightstone Ventures’ investment team has led transactions over the past two decades that have resulted in 19 acquisitions and 20 IPOs. The company has offices in Boston, Massachusetts; Menlo Park, California; Dublin, Ireland and Singapore. For more information, see www.lightstonevc.com.

About Guild Healthcare
Gilde Healthcare is a specialist European healthcare investor with two fund strategies: Private Equity such as Venture&Growth. The company is headquartered in Utrecht (Netherlands) with local offices in Frankfurt (Germany) and Cambridge (USA). Gilde Healthcare Venture&Growth invests in fast-growing and innovative companies in Europe and North America active in the fields of medical technology, digital health and therapeutics. For more information please visit: www.gildehealthcare.com.

media contacts

Volta Medical
Jeff Martin, VP of global Marketing
jeffrey.martin@volta-medical.com

Media contact for the USA
FinnPartners
Glenn Silver
glenn.silver@finnpartners.com

Media contact for Europe
MC Services AG
Julia Bittner
Julia.bittner@mc-services.eu