LUMA Vision secures US $22 million in new financing

20 December 2023

The Bioinnovate Ireland and Trinity spinout will use the funding to secure FDA approval and advance development of its 4D cardiac imaging and navigation platform. 

LUMA Vision, developer of a novel four-dimensional (4D) cardiac imaging and navigation platform, has secured US $22 million in new financing for the company.

The Series A3 financing added three new investors comprising an undisclosed multinational strategic investor, Atlantic Bridge Growth Fund and Bayern Kapital, and was led by existing investors EQT Lifesciences, ABV Uni Fund and imec.xpand.

The new funding adds to prestigious grants won earlier by LUMA Vision from the Irish government’s Disruptive Technologies Innovation Fund ($6 million) and the European Union’s EIC Accelerator ($3 million).

LUMA Vision will use the new funds to gain FDA clearance, prepare for US commercialisation and develop the next generations of its VERAFEYE platform for additional clinical applications in cardiology and beyond.

LUMA Vision has developed VERAFEYE™, a novel all-in-one 4D imaging and navigation platform with data-driven software applications designed for cardiology. The technology uses a proprietary catheter sensor combined with advanced digital imaging and deep learning to provide unprecedented, high-resolution, 360-degree imagery of the beating heart and surrounding anatomy.

VERAFEYE can be used with other catheters or systems during cardiac surgery and, with multiple applications in one platform, can provide all the imaging guidance needed during cardiac surgery in real time without the need for external systems such as X-ray or CT.

VERAFEYE will provide cardiologists with accurate, precise and comprehensive anatomical data required to guide personalised patient therapy across a variety of diseases, such as atrial fibrillation, left atrial appendage closure and cardiac valve replacement.

Professor Gabor Szlepaki, Head of Cardiac Electrophysiology at the Mater Private Hospital Dublin and Centre Clinical lead of the Atrial Fibrillation Institute, said: “This new technology has the potential to help us deliver more precise therapies for patients suffering from abnormal heart rhythms or structural heart problems. This type of medical innovation is essential for the continuous progression of minimally invasive cardiac therapies that can improve patient care.”

“Physicians require accurate, real-time data at the point of care in order to effectively treat patients,” added LUMA Vision CEO Fionn Lahart.

“Our goal with VERAFEYE is to provide the data and imaging physicians need in one system to successfully treat as many of the conditions their patients face as possible. By developing a technology platform that can be tailored for specific therapies in cardiology, we believe that VERAFEYE can be a bedrock of medical imaging for many years to come.”

“We are absolutely delighted to welcome to the company our new investors and gratified to secure the continued backing of our highly regarded existing investors. As a truly pan-European startup with offices in Dublin and Munich, we have grown our team significantly in the last three years and will continue to add world-class talent to help LUMA Vision achieve its goals.”

Source: Trinity College Dublin