Impulse Dynamics, developer of the revolutionary Cardiac Contractility Modulation (CCM) technology for treatment of Chronic Heart Failure (CHF), announced today that the company has closed a $45 million financing round.
The equity financing round was led by Goldstone Investment, a global investment company belonging to the Chinese conglomerate CITIC Securities, and included several other international investment firms. “We believe that CCM addresses a significant unmet need in the Chronic Heart Failure treatment paradigm,” said Mr. Ray Yang, Investment Vice President at Goldstone Investment. “We look forward to seeing Impulse realize its potential of helping millions of patients globally who currently cannot get symptom relief with existing device therapies.”
CCM is delivered by the implantable Optimizer device that administers non-excitatory electric pulses to the heart muscle, initiating multiple biochemical and neurohormonal changes to the myocardium. As a result, the contractility of the myocardium increases with no concomitant increase in oxygen consumption, enabling the heart to work more efficiently. It has already been successfully launched in Europe and is available in cardiology centers in a number of countries. CCM therapy has been implanted in over 3,500 patients to date and is available for patients with narrow QRS complex.
“We are delighted to welcome Goldstone Investment as investors in the Company,” said Dr. Simos Kedikoglou, Chief Executive Officer of Impulse Dynamics. “This investment is a significant milestone for Impulse Dynamics, and will support our continued product development efforts and market expansion globally.”
About the Optimizer and CCM Therapy
Over 3,500 patients worldwide have already received CCM through the Optimizer device, an innovative therapy designed for patients with a narrow QRS complex. Impulse Dynamics has completed extensive clinical studies, including several randomized controlled trials, published in articles in over 60 leading medical journals. The Optimizer is approved in the United States for investigational use only. An advanced version of the device, the Optimizer Smart, has been successfully launched in Europe where it is available in a growing number of cardiology centers.
About Impulse Dynamics
Impulse Dynamics N.V., a member of the Hobart Group companies, is focused on the development of electrical therapies for the treatment of chronic heart failure. As a global leader in cardiac medical innovation, Impulse Dynamics has operations in the United States, Europe, Asia and Australia. For more information, please visit www.impulse-dynamics.com.
About the Hobart Group
The Hobart Group develops and commercializes medical technologies which target top healthcare markets with significant unmet needs. Its growing portfolio of companies covers the areas of cardiology, diabetes, oncology, neurology and rehabilitation. Together, Hobart Group companies have over 200 scientists, engineers, regulatory and business experts across four continents, benefitting from clinical expertise and extensive regulatory and international market knowledge across Europe, the United States and Asia. For more information, visit www.hobart-group.com.
CCM and Optimizer are trademarks of Impulse Dynamics N.V.
Director, Investor Relations and New Business Ventures