
Cardiac medical device firm Sunshine Heart (ASX:SHC) raised $4.6 million by selling 115 million shares in a private placement with institutional investors in the U.S. and Canada at 4 cents per share.
The Eden Prairie, Minnesota-based company is developing the C-Pulse(R) Heart Assist System, an implantable, non-blood-contacting, heart assist therapy to treat moderate to severe heart failure.
C-Pulse is designed to relieve heart failure symptoms through balloon counter-pulsation technology that helps the heart by reducing the workload of the left ventricle. The balloon inflation and deflation is designed to synchronize with a patient’s heartbeat, akin to a pacemaker.

The FDA granted Sunshine approval to conduct a U.S. feasibility trial with the C-Pulse System and the newly raised funds will go toward clinical trials and product development.
“The continued confidence demonstrated by the investment community exemplifies the growing excitement around the C-Pulse Heart Assist System for treatment of Class III and ambulatory Class IV heart failure,” Sunshine Heart’s CEO Dave Rosa said in a press release.
Sunshine plans to raise an additional $9.1 million in August from investors in the U.S., Canada and Australia. In addition to paying for the clinical trials, the money will be used to develop a fully implantable wireless version of C-Pulse.

Here’s a roundup of other dealflow and investment news:
- Oncoscope lands $891,000 for optical imaging
Optical imaging company Oncoscope
Inc. has raised nearly $891,000 of a $2 million funding round, according to an SEC filing. So far funding for the Durham, N.C.-based company has come from sales of equity and warrants across 34 unnamed investors.
Read more - Stanmore Implants touts $6.5 million investment from Imperial Innovations
Customized orthopedic implant maker Stanmore Implants landed a £4 million investment from Imperial Innovations Group plc, which comes to more than $6.5 million U.S. Stanmore just announced FDA clearance for its Juvenile Tumour System, an extendible femur implant that can grow as the patient does, for use in pediatric oncology.
Read more
Leave a Reply
You must be logged in to post a comment.