EBR Systems, Inc., a Sunnyvale, Calif.-based developer of a wireless cardiac pacing system for heart failure, raised $30M in funding.
The round was led by Australian private equity firms Brandon Capital Partners and M.H. Carnegie & Co. with participation from prior investors Split Rock Partners, Ascension Ventures, and Dr. Thomas Fogarty’s Emergent Medical Partners, among others.
The company intends to use the funds to complete enrollment of its pivotal SOLVE CRT clinical trial and to prepare for commercialization of the WiSE Cardiac Resynchronization Therapy (CRT) System.
Led by John McCutcheon, President and CEO, EBR Systems has developed patented proprietary Wireless Stimulation Endocardially (WiSE) technology to eliminate the need for cardiac pacing leads. The company’s initial product is designed to eliminate 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.
SOLVE CRT is EBR’s multi-center, randomized, double blinded, prospective international study intended to assess safety and efficacy of the WiSE™ (Wireless Stimulation Endocardially) pacing technology in support of U.S. Food and Drug Administration (FDA) premarket approval (PMA) application. The study is enrolling 350 heart failure patients who have failed to respond to, or are otherwise unable to receive, conventional CRT. It is expected to complete enrollment in 2020.
Allan Will, former Chairman and CEO of EBR Systems, is assuming the role of Executive Chairman of EBR Systems and remains actively involved with advancing the business.