Healthcare Industry News: Cardiac Contractility Modulation
News Release - May 13, 2016
Impulse Dynamics Completes $30 Million Financing RoundMT. LAUREL, New Jersey, May 13, 2016 -- (Healthcare Sales & Marketing Network) -- Impulse Dynamics, developer of the Optimizer™ IVs implantable device for treatment of chronic heart failure (CHF), announced today that the company has closed a $30 million financing round.
The equity financing round was led by the investment fund of Dr. Peter Lee Ka Kit, Vice Chairman of Henderson Land Development Company Limited, a leading Hong Kong-based property developer. "There is a significant need for a device-based technology that can offer symptom relief to heart failure patients who no longer respond to optimal medical therapy," said Dr. Peter Lee Ka Kit, who has also made numerous charitable donations supporting initiatives to help heart disease patients in China. "The Optimizer device is a unique technology that addresses this unmet need. We look forward to supporting Impulse in its commercial and clinical efforts globally and specifically in the Chinese market."
The Optimizer device is based on Impulse Dynamics' novel Cardiac Contractility Modulation (CCM) technology and delivers non-excitatory electric pulses to the heart muscle, initiating multiple biochemical and neurohormonal changes to the myocardium. As a result, the contractility of the myocardium increases with no concomitant increase in oxygen consumption, enabling the heart to work more efficiently. It has already been successfully launched in Europe and is available in cardiology centers in a number of countries. CCM therapy has been implanted in over 3,000 patients to date and is the only device therapy available for patients with narrow QRS complex.
"We are excited to welcome Dr. Peter Lee Ka Kit as an investor in Impulse Dynamics. It is a reaffirmation of the value of CCM therapy for patients and healthcare systems globally," said Dr. Simos Kedikoglou, Chief Executive Officer of Impulse Dynamics. "CCM is a well-established technology that meets a major need. Our lead investor in this round will play a crucial role in making CCM technology more widely available to heart failure patients especially in China."
Proceeds from the financing will support Impulse Dynamics' continued global commercial expansion, as well as clinical and product development.
About the Optimizer and CCM Therapy
The Optimizer IVs device which delivers CCM therapy has been successfully launched in Europe and other international markets and is available in a growing number of cardiology centers around the world. The therapy has been implanted in about 3,000 patients to date and is the only device therapy available for patients with narrow QRS complex. Impulse Dynamics has completed a vast number of clinical studies, including several randomized controlled trials, as published in over 60 publications in leading medical journals. The Optimizer IVs is limited to investigational use in the USA.
About Impulse Dynamics
Impulse Dynamics N.V., a member of the Hobart Group companies, is focused on the development of electrical therapies for the treatment of chronic heart failure. As a global leader in cardiac medical innovation, Impulse Dynamics has operations in the US, Europe, Asia and Australia. For more information please visit http://www.impulse-dynamics.com
About the Hobart Group
The Hobart Group accelerates ideas and develops and commercializes medical technologies, targeting top healthcare markets with significant unmet needs. Its growing portfolio of companies covers the fields of cardiology, diabetes, oncology, neurology and rehabilitation. Together, Hobart Group companies employ over 200 scientists, engineers, regulatory and business experts across four continents, benefitting from the group's financial strength, clinical expertise and extensive international market knowledge across Europe, the US and Asia. For more information please visit http://www.hobart-group.com
CCM and Optimizer are trademarks of Impulse Dynamics N.V.
Source: Impulse Dynamics
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