Accumetrics raises nearly $30M in financing, launches clinical trial

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Accumetrics, a medical device company and maker of the tests that measure patient response to antiplatelet drugs, has raised $28.8 million in its Series D financing.

Arnerich Massena & Associates and BBT Fund, LP led the syndicate. Also participating in the round were previous investors: Essex Woodland Health Ventures, RiverVest, PTV Sciences, KB Partners and Kaiser Permanente Ventures, according to the San Diego-based company.

“The company is late stage; they have a patented technology platform, multiple reimbursed and FDA-cleared products that provide useful information to assist physicians in their care of patients regarding antiplatelet medications. This financing also supports a major clinical trial to link individualized therapy to improved clinical outcomes,” said Anthony Arnerich, president and CEO of Arnerich Massena.

Accumetrics said it is sponsoring a 6,000 patient, multi-center trial, called GRAVITAS (Gauging Responsiveness With A VerifyNow Assay-Impact On Thrombosis And Safety) to establish platelet function testing with VerifyNow. The executive committee comprises a group of cardiologist, including Matthew Price, MD (as principal investigator), Eric Topol, MD, Paul Teirstein, MD and Christopher Cannon, MD.

“The GRAVITAS trial, using VerifyNow to gauge patients' response is prototypic of the future of individualized medicine,” said Price, director of cardiac catheterization laboratory at the Scripps Clinic in La Jolla, Calif.

“Completion of this $28.8 million financing enables us to initiate the GRAVITAS study and positions the company for commercial success,” said Steven Frankel, CEO of Accumetrics.