CircuLite Inc. landed $30 million in an oversubscribed Series D financing round led by McAndrews & Forbes Holdings Inc. and Forbion Capital Partners.
The Saddle Brook, N.J.-based company will use the funds to support the European commercial launch of its Synergy circulatory support system and to fund an investigational device exemption pilot study in the U.S.
CircuLite touts Synergy as the world’s smallest implantable heart pump, saying it’s roughly the size of a AA battery. The company expects to receive European Union CE Mark approval for the system during the first half of 2012.
"This significant and oversubscribed Series D financing underscores the substantial potential of the Synergy system to improve heart failure treatment," president & CEO Paul Southworth said in prepared remarks. "These proceeds will support our continued leadership position in the field as we advance our pipeline of products for heart failure patients."
CircuLite was awarded a National Institutes of Health grant in 2009 and is collaborating with the University of Maryland School of Medicine to develop a version of the Synergy pump for use in children and infants.
Here’s a roundup of other dealflow and investment news:
- MRM software provider lands $23M
Mobile risk management software company Fixmo raised a total $23 million in its third round of funding, led by new investor Paladin Capital Group.
- IlluminOss Medical raises $4M
East Providence, R.I.-based IlluminOss Medical Inc. raised $4 million from four investors in a debt funding round.
- NuCana lands $10.4 M for anti-cancer therapies
Anti-cancer therapy company NuCana BioMed raised $10.4 million in a Series A venture financing round led by Sofinnova Partners, Morningside Ventures, Scottish Venture Fund and Alida Capital International.