Lisle, Ill.-based medtech company Endotronix, Inc. secured $45 million in a Series D financing round. The funds will be used to support the commercialization of its Cordella Heart Failure System and support clinical development of the company’s pulmonary artery sensor.
The Endotronix Cordella System is designed to “address inefficiencies in heart failure management,” according to the company. A sensor is implanted in the patient’s pulmonary artery which provides wireless feedback to monitors. In January the company implanted its Cordella Pulmonary Artery Pressure Sensor in its first patient as part of the SIRONA First-in-Human (FIH) clinical trial. The sensor is being tested in the trial for the treatment of advanced heart failure patients who remain unstable despite standard of care medical management. The sensor provides pressure data readings in the pulmonary artery that clinicians can then interpret to guide therapy, the company said.
Part of the system’s design is to promote “guideline-based therapy” that will allow physicians to improve the care of patients and reduce return trips to the hospital.
Harry Rowland, chief executive officer of Endotronix, said the financing will allow the company to move into its next phase. The funding accelerates the company’s U.S. and European launch of the Cordella System. Additionally, Rowland said the financing will support the company’s “upcoming landmark randomized, controlled clinical study, PROACTIVE-HF, to demonstrate the safety and effectiveness of proactive heart failure management.”
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