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Print Edition StoriesThursday, March 18, 2010
Rhythmia Medical grabs $2.7M equity round
By Mass High Tech staff
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Rhythmia Medical Inc., a Burlington-based private medical device company, has taken in $2.7 million in an equity round filed with the U.S. Securities and Exchange Commission on Wednesday. The funding included 14 investors participating in the round.
Prior to this latest equity round, Rhythmia Medical had raised $12 million since its founding in 2004. The $12 million includes a $7 million Series B financing it won in 2007 from lead investor Norwich Ventures, as well as previous backers and individuals from the medical devices industry. Previously, the company had raised $2 million in a 2005 Series A financing round.
In March 2009, Rhythmia won a Phase 1 Small Business Innovation Research (SBIR) grant from the National Institutes of Health for $200,000 to develop its lead product, a tool for mapping cardiac arrhythmias.
Rhythmia Medical was founded by Doran Harlev, a graduate of the Sloan School of Management at MIT, and Leon Amariglio, an MBA holder from Harvard Business School. The company’s mapping tool aids in visualizing catheter ablation procedures in treating arrhthymias.
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