Home Heart Disease Treatment Cardiac Dimensions Announces $39 Million Series B Financing for Innovative Device to Treat Patients With Heart Failure

Cardiac Dimensions Announces $39 Million Series B Financing for Innovative Device to Treat Patients With Heart Failure

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Cardiac Dimensions Announces $39 Million Series B Financing for Innovative Device to Treat Patients With Heart Failure

KIRKLAND, Wash.--()--Cardiac Dimensions, a leader in the development of innovative, minimally
invasive treatments for patients with heart failure, today announced the
company has closed a $39 million Series B financing. The round includes
new investor, Australia-based Hostplus, venture debt from Oxford Finance
LLC, as well as support from existing investors M. H. Carnegie & Co.,
Arboretum Ventures, Lumira Capital, LSP Health Economics Fund and
Aperture Venture Partners.

The financing will be used to continue to build clinical evidence for
Cardiac Dimensions’ Carillon® Mitral Contour System®
for the treatment of functional mitral regurgitation (FMR) in patients
with heart failure, including continuing The CARILLON Trial U.S. pivotal
study and completing the follow-up and publication of the landmark
randomized, double-blinded REDUCE FMR global study.

The Carillon System is designed to offer physicians a safe and
easy-to-use option to treat patients earlier in their disease diagnosis,
including those with lesser degrees of FMR (2+ MR grade), to slow
disease progression, and stabilize or improve quality of life.

"Our clinical data and commercial experience suggest that the Carillon
System offers a viable treatment option that addresses the underlying
mechanical problem of FMR with a catheter-based alternative to
medications and invasive surgery. This funding will provide the
resources to complete and publish the landmark REDUCE FMR trial,
continue to support enrollment in The CARILLON pivotal trial here in the
U.S., and enhance our presence throughout world markets,” said Gregory
D. Casciaro, president and CEO of Cardiac Dimensions. “We welcome our
newest investors to the team and are grateful to our returning investors
for their continued support.”

Functional mitral regurgitation affects approximately seven million
people in the United States, and occurs when the left ventricle of the
heart is enlarged, dilating (stretching) the valve opening (annulus) and
causing a backward flow of blood into the atrium. Left untreated, FMR
contributes to heart failure – a chronic, progressive condition that
weakens the heart and makes everyday activities difficult. The primary
therapy for patients with this disease is to treat them with medical
management.

"Hundreds of thousands of people around the world, and an estimated
50,000 Australians, have heart failure and FMR, and could benefit from
treatment with the Carillon System,” said David Elia, chief executive
officer of Hostplus. “We are excited to work with Cardiac Dimensions to
expand access to the Carillon System to patients in need, not only here
in Australia, but across the globe.”

About Hostplus

Hostplus is the national superannuation fund for those that live and
love Australian hospitality, tourism, recreation and sport. The
Australian Hotels Association and United Voice jointly established the
fund in 1987. Hostplus is one of the largest in the country with over
one million members, 170,000 employers and $30 billion in funds under
management.

About Oxford Finance LLC

Oxford Finance is a specialty finance firm providing senior secured
loans to public and private life sciences and healthcare services
companies worldwide. For over 20 years, Oxford has delivered flexible
financing solutions to its clients, enabling these companies to maximize
their equity by leveraging their assets. In recent years, Oxford has
originated over $4 billion in loans, with lines of credit ranging from
$5 million to $100 million. Oxford is headquartered in Alexandria,
Virginia, with additional offices in San Diego, California; Palo Alto,
California; and the greater Boston and New York City areas. For more
information, visit oxfordfinance.com.

About the Carillon Mitral Contour System

The Carillon Mitral Contour System is an innovative minimally invasive
treatment for people diagnosed with FMR. The Carillon System is designed
to offer physicians a safe and easy-to-use option to treat patients
earlier in their disease diagnosis, including those with lesser degrees
of FMR (2+ MR grade), to slow disease progression, and stabilize or
improve quality of life. The Carillon System treats the dilated mitral
annulus, the underlying mechanical problem of FMR, with a catheter-based
alternative to medications and invasive surgery. Unlike other mitral
regurgitation therapies, the Carillon System replicates traditional
surgical standards through a simple, minimally invasive approach that
offers patients annular reduction, while keeping adjunctive therapy
options open.

To date, more than 850 patients worldwide have been treated with the
Carillon System. The Carillon System has CE Mark and is available in
certain European markets as well as other key geographies including
Turkey, the Netherlands and Italy. Clinical data from three completed
international studies of the Carillon System (AMADEUS, TITAN, and TITAN
II) have demonstrated the performance of the device. In addition, the
company is completing the follow up period of the landmark REDUCE FMR
Trial – the first randomized, blinded evaluation of a therapy for FMR.
The results of the REDUCE FMR Trial are expected before the end of 2018.
Additionally, The CARILLON Trial, the company‘s U.S. pivotal study, is
currently enrolling participants.

About Cardiac Dimensions

Cardiac Dimensions is the leader in innovative, minimally invasive
treatment modalities addressing the heart failure patient population.
Left untreated, FMR contributes to heart failure – a chronic,
progressive condition that weakens the heart and makes everyday
activities difficult. The Carillon System addresses the underlying
mechanical problem of FMR with a catheter-based alternative to
medications and invasive surgery. Cardiac Dimensions has operations in
Kirkland, Sydney, and Frankfurt, Germany.

The Carillon Mitral Contour System is limited to investigational use in
the U.S. For more information, please visit www.cardiacdimensions.com.

Cardiac Dimensions, Carillon and Mitral Contour System are registered
trademarks of Cardiac Dimensions.

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