Heart Force Medical raises $4.8 Million

Vancouver’s Heart Force Medical announced this morning that it has closed its private, non-brokered financing raising a total of $4.8 Million.

You may recall hearing about Heart Force last June when they won the BC Technology Impact Association Award for most promising pre-commercial technology for their patent-pending digital Ballistocardiograph (dBG(TM)). The dBG 300, which is already approved in Canada and secured FDA certification in July 2009, captures the movement of the heart during each cardiac cycle (heart beat).

“Despite the turmoil in the capital markets in 2009 Heart Force demonstrated the increasing value of the digital Ballistocardiograph (dBG(TM)) technology by the achievement of a series of milestone events that culminated in the closing of this financing,” said Dr Geoff Houlton, HFM’s President and CEO. “Last year in addition to the award for best pre-commercial technology from the BCTIA, we secured FDA certification. Most recently, on January 5th we received the European CE Marking. This mandatory confirmatory mark certifies that the dBG 300 has achieved the necessary safety and efficacy requirements for marketing to all countries in the European Union. In 2010 we will continue to advance our clinical applications in a number of clinical experience studies including ischemic heart disease and cardiac pacing studies.”

Heart Force Medical anticipates its dBG technology will ultimately be used by physicians as the premier non-invasive cardiac assessment, monitoring and screening device.