Impulse Dynamics announced today that it completed a Series D financing round with new investors providing more than $80 million to the cardiac contractility modulation (CCM) therapy developer.
The company said proceeds from the funding round totaling $80.25 million will be used to facilitate U.S. commercialization of its FDA-approved Optimizer Smart implantable device for CCM therapy.
CCM therapy with the Optimizer Smart is designed to offer an alternative way to alleviate symptoms and improve quality of life in chronic heart failure patients. The device has been proven to strengthen the heart and help it beat more forcibly, according to a news release.
Amzak Health Investors led the funding round, which also included Wellington Management, Kennedy Lewis Investment Management, Acorn Biosciences and Minth Holdings Limited. Zoll Medical Corporation, Abiomed and an additional corporate investor, along with Impulse Dynamics’ CEO and CFO, were involved as well.
“We are extremely pleased that our new strategic and financial investors recognize the significant potential of cardiac contractility modulation, or CCM therapy, with the Optimizer Smart,” Impulse Dynamics CEO Simos Kedikoglou said in the news release.
“We look forward to accelerating the ramp-up of our commercial operations, particularly in the U.S. where we are just entering the market thanks to our two recent FDA approvals and CMS transitional pass-through payment approval, to make this potential a reality for physicians and their patients,” Kedikoglou said.
Following the financing, Impulse Dynamics also announced that Amzak Health Investors managing partner Joyce Erony will join the Impulse board of directors.
“This is a very exciting time for a company that has achieved significant milestones in 2019 and is now launching their product in the United States,” Erony said. “We are very excited about the opportunity to improve the quality of life for heart failure patients with this breakthrough therapy and we look forward to joining the Impulse team.”