Endotronix said today that it raised more than $37 million for the Cordella pulmonary artery pressure sensor it’s developing.
Cordella consists of a wireless cardiac monitor and a miniature pressure sensor that’s designed to be implanted in a patient’s pulmonary artery to wirelessly return PA pressure to portable reader device. Data from the device can be transmitted to healthcare providers through a wireless link to Endotronix software, and is stored and analyzed by the company’s system.
The Lisle, Ill.-based company raised the full amount of its $37.1 million goal from 52 unnamed investors in an equity round that began in July 2016, the company revealed today in a regulatory filing.
In January 2017 Endotronix inked a $12 million term loan agreement with Silicon Valley Bank to back the clinical program for Cordella, after a $32 million Series C round in July 2016 that included existing backers and an unnamed strategic investor, plus BioVentures Investors, SV Life Sciences, Lumira Capital, Aperture Venture Partners and OSF Ventures.
Read the full story at Mass Device.