Laguna Hills-based LoneStar Heart Inc. said today that it raised $20 million of equity financing.
LoneStar develops cardiac restorative therapies for patients with heart failure. The company said in a statement that it would use the money for clinical testing and regulatory clearance of Algisyl-LVR, its lead product.
Algisyl-LVR is a single-use, self-gelling biopolymer that’s implanted into the heart’s left ventricle during surgery for treating advanced heart failure.
The company has raised $35 million since its inception two years ago.
Themes Investment Partners, a Chinese firm, led LoneStar’s investment. LoneStar, which also has an office in Dallas, is developing Algisyl-LVR in China.