Impulse Dynamics, a Stuttgart, Germany-based developer of an implantable device for treatment of chronic heart failure (CHF), closed a $30m equity funding.
The round was led by the investment fund of Dr. Peter Lee Ka Kit, Vice Chairman of Henderson Land Development Company Limited, a Hong Kong-based property developer.
The company intends to use the proceeds for continued global commercial expansion, as well as clinical and product development.
Led by Dr. Simos Kedikoglou, Chief Executive Officer, Impulse Dynamics develops electrical therapies for the treatment of chronic heart failure. The Optimizer device, based on Cardiac Contractility Modulation (CCM) technology, delivers 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.
The device has already been successfully launched in Europe and is available in cardiology centers in a number of countries with the CCM therapy implanted in over 3,000 patients to date. It is still limited to investigational use in the USA.
A member of the Hobart Group companies, the company has operations in the US, Europe, Asia and Australia.