Developer of a noninvasive implant solution for transcatheter Left Atrial Appendage (LAA) exclusion, Apend Medical has announced the completion of a €6.2 million ($7.4m) Series A financing round.

The round was led by MedTecX LP along with an unnamed strategic company and other investors and included a $700K of matching grant from the Israel Innovation Authority.

WHY IT MATTERS

Append Medical, develops the Appligator, a device designed to reduce stroke risk in AF patients by excluding the LAA to prevent blood clot leakage with a minimally invasive transseptal intervention leaving no metal implant behind.

Append Medical is a member of MEDX Xelerator, a medical device and digital health incubator in Israel.

“Append Medical brings an important innovation to the field of stroke prevention in atrial fibrillation patients,” explains Prof. Horst Sievert. “Its suture delivery system is the first ever to allow for minimally invasive endovascular exclusion of the left atrial appendage leaving only a suture lasso behind and no metal implant.”

THE LARGER CONTEXT

Last month, Israel-based Aidoc, maker of an AI tool for medical imaging, scored $66 million in a Series C funding round led by General Catalyst. This brings the company's total funding pot to $140 million.

ON THE RECORD

“This round will enable Append to continue developing its technology towards a clinical product. We are thrilled to see the accomplishment of the team so far,” said Shai Policker, CEO of the MEDX Xelerator and Append’s Chairman.

“The growing problem of atrial fibrillation and the issues associated with anticoagulants calls for innovation and we are happy to take part in supporting this important technology,” added Lifei Cheng, CEO of MedTecX.