SynCardia pulls in another $14 million to develop a smaller version of its total artificial heart for bridge-to-transplant therapy.

SynCardia raises $14M for smaller total artificial heart

SynCardia said it brought in another $14 million funding round, led by a $10 million contribution from SWK Holdings, that it plans to use to develop a smaller version of its total artificial heart.

Tucson-based SynCardia said Athyrium Capital Management contributed the remaining $4 million as a follow-on to its $10 million investment in March.

The medtech company said it plans to use the cash to develop a 50cc version of its total artificial heart for bridge-to-transplant therapy for heart disease patients awaiting a transplant. SynCardia's 70cc device is already approved in the U.S., Canada and countries that recognize the European Union's CE Mark.

Advertisement