EBR Systems, Inc., a Sunnyvale, CA-based developer of a wireless cardiac pacing system for heart failure, raised $20m in funding.
The round was led by Dr. Thomas Fogarty’s Emergent Medical Partners, with participation from current investors Split Rock Partners, SV Life Sciences, Delphi Ventures and St. Paul Venture Capital as well as an unnamed cardiovascular corporate strategic investor.
The company intends to use the funds for clinical studies and regulatory filings, including commitments toward a second quarter closing.
Led by Allan Will, Chairman and CEO, EBR Systems has developed proprietary technology to eliminate the need for cardiac pacing leads. Its initial product eliminates the need for coronary sinus leads to stimulate the left ventricle in heart failure patients requiring CRT. Future products will address wireless endocardial stimulation for bradycardia, and other non-cardiac indications.
The company’s wireless pacing system is not currently available for commercial sale. It is subject to the company obtaining a CE mark for sale in Europe and approval for a U.S. IDE (Investigational Device Exemption) clinical study.