Impulse Dynamics said today it closed a $45 million equity financing round to support its cardiac contractility modulation technology designed to treat chronic heart failure.
The round was led by Goldstone Investment and was joined by several other international investment firms, the Stuttgart, Germany-based company said.
“We believe that CCM addresses a significant unmet need in the Chronic Heart Failure treatment paradigm. We look forward to seeing Impulse realize its potential of helping millions of patients globally who currently can’t get symptom relief with existing device therapies,” Goldstone Investment VP Mr. Ray Yang said in a press release.
Impulse Dynamics produces the Optimizer IVs implantable heart failure device, which 1st won CE Mark approval in the European Union back in 2002.
The Optimizer is designed to remodel the myocardium to increase the heart’s efficiency, using what the company calls cardiac contractility modulation – non-excitatory electrical pulses delivered to the heart muscle.
“We are delighted to welcome the Goldstone Investment as investors in the company. This investment is a significant milestone for Impulse Dynamics, and will support our continued product development efforts and market expansion globally,” CEO Dr. Simos Kedikoglou said in prepared remarks.
Last May, Impulse Dynamics said it raised $30 million in a round led by the Hong Kong investment fund of real estate developer Peter Lee Ka Kit. The company said it plans to use the proceeds to expand its commercial footprint for the Optimizer device.