Impulse Dynamics Completes $30 Million Financing Round
Mt. Laurel, New Jersey, May 13 2016 – Impulse Dynamics, developer of the Optimizer™ IVs implantable device for treatment of chronic heart failure (CHF), announced today that the company has closed a $30 million financing round.
The equity financing round was led by the investment fund of Dr. Peter Lee Ka Kit, Vice Chairman of Henderson Land Development Company Limited, a leading Hong Kong-based property developer. “There is a significant need for a device-based technology that can offer symptom relief to heart failure patients who no longer respond to optimal medical therapy,” said Dr. Peter Lee Ka Kit, who has also made numerous charitable donations supporting initiatives to help heart disease patients in China. “The Optimizer device is a unique technology that addresses this unmet need. We look forward to supporting Impulse in its commercial and clinical efforts globally and specifically in the Chinese market.”
The Optimizer device is based on Impulse Dynamics’ novel Cardiac Contractility Modulation (CCM) technology and 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. It has already been successfully launched in Europe and is available in cardiology centers in a number of countries. CCM therapy has been implanted in over 3,000 patients to date and is the only device therapy available for patients with narrow QRS complex.
“We are excited to welcome Dr. Peter Lee Ka Kit as an investor in Impulse Dynamics. It is a reaffirmation of the value of CCM therapy for patients and healthcare systems globally,” said Dr. Simos Kedikoglou, Chief Executive Officer of Impulse Dynamics. “CCM is a well-established technology that meets a major need. Our lead investor in this round will play a crucial role in making CCM technology more widely available to heart failure patients especially in China.”
Proceeds from the financing will support Impulse Dynamics’ continued global commercial expansion, as well as clinical and product development.
About the Optimizer and CCM Therapy
CCM is the brand name for Cardiac Contractility Modulation, the non-excitatory electrical pulses delivered by the implantable Optimizer device during the absolute refractory period of the heart’s cardiac cycle to improve systolic contraction of the heart. The Optimizer System has been implanted in over 4,000 patients and is currently available in the US, Europe, China, Brazil, India, and more than 40 other countries around the world. Impulse Dynamics has completed numerous clinical studies, including several randomized controlled trials, and the results have been published in over 80 articles appearing in leading medical journals.
About Impulse Dynamics
Impulse Dynamics is a medical device company dedicated to transforming the treatment of chronic heart failure. With global headquarters in Mount Laurel, N.J., the company has additional offices in; Stuttgart, Germany, Orangeburg, N.Y. and Curacao For more information please visit www.impulse-dynamics.com.
Impulse Dynamics (USA), Inc.
523 Fellowship Road, Suite 203
Mt. Laurel, NJ 08054