Orqis Medical Corp., a Lake Forest heart device maker, said Tuesday that it raised an additional $12 million as part of its fourth round of venture funding.
The additional funding brings Orqis’ fourth-round total to $34.7 million. It raised $22.7 million in an earlier round.
Three new investors,Salt Lake City-based Wasatch Advisors Inc. and its private equity affiliate, Cross Creek Capital, and the Omega Fund, which has offices in London,led the round. Existing investors also participated, Orqis said.
Orqis’ products include Cancion, which is inserted through the skin to treat acute congestive heart failure, and Exeleras, an implantable pump that’s used to treat patients with mid- to late-stage chronic heart failure.
The funding will allow Orqis to complete a pivotal clinical trial, submit a pre-market application for Cancion to the Food and Drug Administration and advance Exeleras through its first human use, said Chief Executive Ken Charhut in a release.
