SynCardia raises $14M to develop heart

Tucson-based SynCardia Systems Inc. has raised another $14 million to bankroll development of its artificial heart and related products. The new financing will help spur development of a new, smaller 50cc version of the approved 70cc SynCardia Total Artificial Heart, the availability of the Freedom portable driver and the use of SynCardia technology as a “destination therapy” for patients who are not transplant candidates, said Michael Garippa, president and CEO of SynCardia.

SynCardia’s Total Artificial Heart is the first and only device approved as a bridge to transplant in the U.S., Europe and Canada.

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