Maxwell Biomedical, a Solana Beach-based medical device maker with new technology for atrial fibrillation, has closed its seed round from local angel investors. The money came from Tech Coast Angels chapter, who invested north of $500,000 into the startup.
Founded in 2019, by Medtech entrepreneur Randy Werneth. The company is developing a pain-free wireless battery pacing technology to keep atrial fibrillation patients in sinus rhythm.
“At Maxwell we have figured out how to help patients without causing them any pain, which nobody else has been able to accomplish,” said Werneth.
Its technology claims to be the first of its kind cardiac rhythm management device for the treatment of atrial fibrillation. Maxwell’s approach involves using electrodes targeting a critical location that enables a low-power, pain-free solution to patients.
Providing an Innovative Solution
Roughly 30% of patients with chronic heart failure also experience electrical conduction problems in their heart that require a type of therapy to resynchronize the heart’s conduction system in its two largest chambers.
In these cases, doctors prescribe cardiac resynchronization therapy or CRT. CRT is delivered by long wires that are attached to pacemakers to pace both of the bottom chambers of the heart.
When a patient needs both chambers of the heart synchronized, a traditional pacemaker with leads is currently the only commercially available option. Unfortunately, these leads are prone to fracturing, dislodging, and migrating away from the original location.
Maxwell’s solution offers a wireless powered pacemaker system that aims to reduce the complications associated with the traditional pacemakers that promises safer and more effective biventricular pacing options.
In addition, the pacemaker also learns from the data it generates, identifies patterns, and makes adjustments to enable constant optimal patient-specific therapy.
Atrial fibrillation is the most common arrhythmia diagnosed in clinical practice, affecting over 33 million individuals worldwide. In the U.S., the catheter ablation market reaches $4 billion annually, and treats about 500,000 patients a year. A growing epidemic, it is expected to double in the next 50 years as the population ages.