Financings in Brief: Cambridge Heart
This article was originally published in The Gray Sheet
Executive Summary
Cambridge Heart: Non-invasive cardiac diagnostics firm receives $3.5 mil. from a private placement of convertible preferred stock to Morgan Stanley Venture Capital Fund II, L.P., and "certain related funds." Bedford, Massachusetts-based Cambridge Heart is conducting clinical trials of its CH 2000 exercise stress test system, which the company says can screen patients at risk for sudden cardiac death. The company says it has filed a 510(k) for FDA clearance of the CH 2000 and has inked letter-of-intent agreements for distribution with Fukuda Denshi in Japan and Kontron Instruments in Europe. Founded in 1992, Cambridge Heart has raised $10 mil. to date...