Endotronix said today that it raised more than $37 million for the Cordella pulmonary artery pressure sensor it’s developing.
Cordella consists of a wireless cardiac monitor and a miniature pressure sensor that’s designed to be implanted in a patient’s pulmonary artery to wirelessly return PA pressure to portable reader device. Data from the device can be transmitted to healthcare providers through a wireless link to Endotronix software, and is stored and analyzed by the company’s system.
The Lisle, Ill.-based company raised the full amount of its $37.1 million goal from 52 unnamed investors in an equity round that began in July 2016, the company revealed today in a regulatory filing.
In January 2017 Endotronix inked a $12 million term loan agreement with Silicon Valley Bank to back the clinical program for Cordella, after a $32 million Series C round in July 2016 that included existing backers and an unnamed strategic investor, plus BioVentures Investors, SV Life Sciences, Lumira Capital, Aperture Venture Partners and OSF Ventures.
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