Endotronix, Inc., a Woodridge, Ill.-based digital health medtech company providing innovative solutions for patients with advanced heart failure, received $12m term loan agreement from Silicon Valley Bank (SVB).
The financing came after a $32m Series C round last July 2016 that included BioVentures Investors, SV Life Sciences (SVLS), Lumira Capital, Aperture Venture Partners, OSF Ventures, existing investors, and a corporate strategic investor.
The financing will support the clinical program of the Cordella™ Heart Failure System.
Led by Harry Rowland, CEO, Endotronix is developing an integrated platform to provide comprehensive, reimbursable health management tools for patients suffering from advanced heart failure. The company’s solution, the Cordella™ Heart Failure System, includes a cloud-based disease management data system and outpatient hemodynamic management with an implantable wireless pulmonary artery sensor for early detection of worsening heart failure.