Impulse Dynamics, developer of Optimizer Smart System for delivering CCM therapy, has raised $80.25m through Series D financing round, which had seen the participation of several new investors.
Proceeds from the funding round will be used to accelerate commercialisation of the Optimizer Smart in the US.
Optimizer Smart is an FDA-approved implantable device, intended to treat chronic heart failure. It has been proven to strengthen the heart, helping it to beat more forcibly.
Medical technology investor Amzak Health Investors led the funding round, which also saw participation from Wellington Management, Kennedy Lewis Investment Management, Acorn Biosciences and Minth Holdings Limited.
Strategic investors included Zoll Medical Corporation, Abiomed and one additional corporate investor, as well as the company’s chief executive and chief financial officers.
Impulse Dynamics CEO Simos Kedikoglou said: “This development brings encouraging news to the vast number of heart failure patients in the US and around the world who suffer poor quality of life and have run out of viable options to treat their disease.
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“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.”
Heart failure impacts an estimated 26 million people across the world, with almost six million of those in the US alone.
For suffers, the heart cannot pump forcibly enough to meet the body’s requirements. Over time, this leads to symptoms such as breathlessness and fatigue.
Although first-line prescription drugs can ease early symptoms, they do not curb the progression of the disease and may also cause side effects.
CCM therapy with the Optimizer Smart may provide an alternative to reduce symptoms in patients.
This patient population forms about 70% of NYHA Class III heart failure patients who are symptomatic even with guideline-directed medical therapy.
Joyce Erony, managing partner at Amzak Health Investors, will become part of the board of directors at Impulse Dynamics.