Fresenius (NYSE:FMS) said today that its venture arm put $2 million into a Series B round for Vectorious Medical Technologies that brought in a total of nearly $10 million for the cardiac implant company.
Tel Aviv-based Vectorius is developing the V-Lap implantable wireless heart monitor, which is designed to monitor pressure in the heart’s left atrium. The $9.5 million Series B round in March was led by Boston venture capital shop Broadview Ventures and China’s GEOC and individual investors, plus a $2.2 million grant from the European Union’s Horizon 2020 R&D program and the Israel Innovation Authority.
Founded in 2011 in the RadBioMed incubator, Vectorius employs 15 workers in Israel and at the Cleveland Clinic, which is also an investor. Vectorious raised $5 million in a Series A round two years ago.
“This first investment we have made outside of the U.S. demonstrates our confidence in the great innovative potential for medical products in Israel. Based on the pioneering nature of Vectorious’ technology for managing chronic heart failure patients’ care, we see this as a compelling early stage investment opportunity with tremendous potential,” global R&D SVP Florian Jehle said in prepared remarks.
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