Monday, April 21st, 2014
Greater Seattle’s life sciences industry continues to grow and prosper, as another company receives a major funding boost. Cardiac Dimensions, a Kirkland-based company that builds devices to treat heart failure, has received $20 million in a new round of financing last week. The funding came from M.H. Carnegie & Co, an Australian VC firm, and Lumira Capital, a Canadian VC firm.
Cardiac Dimensions will use the new funds to expand internationally: build a new facility in Australia to tap into the Asia Pacific market; jump-start a series of clinical trials in 20 hospitals; and increase commercial activity in Europe.
The good news for Cardiac Dimensions follows a string of recent VC attraction success for Washington State companies. In the first quarter of 2014, there were 23 venture investments in the state totaling $151 million. Other companies that announced new funding deals last week include Julep Beauty and Avvo.