CircuLite Completes $32.5M Series C Financing
CircuLite, Inc., a Saddle Brook, NJ-based cardiovascular device company, has closed its $32.5m Series C round of financing.
Forbion Capital Partners led the round, and was joined by Crédit Agricole Private Equity, Foundation Medical Partners, Oxford Bioscience Partners and several undisclosed individual investors.
In conjunction with the Series C round, Avi Molcho, M.D., Venture Partner at Forbion Capital Partners, joins CircuLite’s board of directors.
The company is develoing minimally-invasive devices for long term partial circulatory support (PCS). Proceeds will be used to complete the ongoing clinical study, European registration and commercial launch of the Synergy Pocket Micro-pump, a small implantable blood pump for partial circulatory support in patients with Class IIIb and early Class IV heart failure.
The financing will also support the initiation of Investigational Device Exemption trials for Synergy in the United States.