ACC among investors raising $2.75M for new LAAO tech
Chicago-based Parasol Med Tech has raised $2.75 million to advance its next-generation left atrial appendage occlusion (LAAO) system designed to prevent stroke in patients with atrial fibrillation (AFib). Investors included Cardiovascular Innovation Ventures, the venture arm of the American College of Cardiology (ACC), as well as Harper Court Ventures and UChicago Medicine Ventures.
Parasol's device uses a combination catheter that deploys an Amplatzer-like flexible shield, similar to opening a parasol umbrella, and a gel delivery system. The shield seals the LAA temporarily to prevent the gel from embolizing, but allows blood to escape as gel fill the entire LAA and completely seals the appendage. After the gel solidifies, the shield is pulled back into the catheter and withdrawn, so no metal implants are left behind.
“Having closed more than a thousand LAAs, I've seen exactly where today's devices fall short, with residual leaks around the implant, clots forming on the device itself, and patients stuck on blood thinners they can't tolerate," Atman Shah, MD, Parasol founder and chief medical officer, said in a statement. Shah is a professor of medicine, clinical director of cardiology and co-director of the cardiac cath lab at the University of Chicago. "Parasol was built around a simple idea: the device should conform to the patient's anatomy, not the other way around. This funding lets us take that personalized approach through the next stage of testing and closer to human patients.”
Investors said they like the novel concepts combined in the device as a way to overcome issues associated with the current generation of LAAO devices available on the U.S. market.
“Innovation is essential to transforming cardiovascular care and improving heart health for all,” Richard Chazal, MD, chair of the board of managers at Cardiovascular Innovation Ventures, said in the same statement. “By exploring a novel approach to reducing stroke risk in people with AFib, Parasol represents the type of forward-thinking technology Cardiovascular Innovation Ventures seeks to support to help improve patient outcomes and quality of life.”
“We are particularly impressed by the novelty of Parasol’s approach, which is tailored to each patient and, unlike today’s leading devices, leaves no metal in the body. With millions of people living with AFib and most cases untreated today, Parasol has the potential for enormous impact,” added Hannah Levine, executive director of UCM Ventures.
Dave Fornell has covered healthcare for more than 17 years, with a focus in cardiology and radiology. Fornell is a 5-time winner of a Jesse H. Neal Award, the most prestigious editorial honors in the field of specialized journalism. The wins included best technical content, best use of social media and best COVID-19 coverage. Fornell was also a three-time Neal finalist for best range of work by a single author. He produces more than 100 editorial videos each year, most of them interviews with key opinion leaders in medicine. He also writes technical articles, covers key trends, conducts video hospital site visits, and is very involved with social media. E-mail: [email protected]