The University of Virginia Licensing and Ventures Group Seed Fund has made its fourth investment, putting an undisclosed sum into 510 Kardiac Devices.

510 Kardiac Devices, a US-based medical devices spinout from University of Virginia (UVA) Health System, raised seed funding today from investors including the UVA Licensing and Ventures Group (LVG) Seed Fund.

The round was also supported by medical design and manufacturing company Nextern Medical.

Founded in 2015, 510 Kardiac Devices is developing a medical device, called Lim Transseptal System (LTS), for cardiovascular surgical procedures. LTS enables surgeons to precisely target specific locations within the structures of the heart.

The company has worked with a manufacturer to design functioning prototypes and has undertaken a successful pre-clinical trial.

The money will accelerate the spinout’s efforts to secure regulatory approval for the LTS device. LTS has been named after co-founder Scott Lim, director of the Advanced Cardiac Valve Center at University of Virginia Health System.

Lim co-founded the company with chief executive Jaime Sarabia, a mechanical engineer who has worked in the medical device sector for more than 18 years.

Sarabia said. “We are grateful to have support from the UVA LVG Seed Fund as we prepare for FDA approval and approach commercialisation of the LTS device.

“Our team has worked through the necessary research and development, and we believe this device will significantly improve the functionality, visibility, and precision needed to perform transseptal punctures.”

The UVA LVG Seed Fund is $10m vehicle launched in 2015 by tech transfer office LVG to invest in spinouts. 510 Kardiac Devices marks the fund’s fourth investment.