MARLTON, N.J.--(BUSINESS WIRE)--Impulse Dynamics, a company dedicated to helping healthcare providers improve the lives of people with heart failure, today announced the completion of a $60 million supplemental Series D crossover financing with new investors, anchored by CR-CCT Industry Pilot Fund together with Redmile Group and Perceptive Advisors. Proceeds of the financing will be used for general corporate purposes, including acceleration of clinical and product development activities along with continued U.S. commercialization of the Optimizer® Smart, an FDA-approved implantable device for treating chronic heart failure that has been proven to strengthen the heart and help it beat more forcibly. The transaction closed in late December.
“We are extremely pleased to be adding these sophisticated investors to our robust existing group, all of whom recognize the significant potential of our breakthrough technologies for an immense group of patients with major unmet needs,” said Gerry Haines, CFO of Impulse Dynamics. “With our mature product development pipeline and two additional breakthrough designations, it is exciting to see the potential for cardiac contractility modulation therapy to play an even larger role in improving the lives of patients who continue to suffer from this debilitating disease. We look forward to accelerating key development activities, designed to serve new and larger groups of patients in need, in parallel with the continuing expansion of our commercial operations.”
Heart failure is a chronic and progressive condition affecting an estimated 26 million people worldwide, with nearly 6 million of those in the U.S. alone.1,2 For people living with the disease, the heart is not able to pump forcibly enough to meet the body’s needs. Over time, this leads to symptoms including breathlessness and fatigue, making even simple, everyday activities challenging. For eligible patients, CCM therapy with the Optimizer Smart provides a new alternative to alleviate symptoms and improve quality of life, bringing hope to millions.
The Optimizer delivers CCM therapy, the company’s proprietary technology, to the heart through a device that is similar in size to a pacemaker. It is implanted during a minimally invasive procedure while a patient is under light sedation and has been used to treat over 5,000 patients worldwide. It is currently available in the United States, Europe, China, Brazil, India and more than 40 other countries around the world.
CCM therapy is the first approach of its kind designed to improve contraction of the heart, allowing more oxygen-rich blood to reach the body.3 CCM therapy delivers precisely timed electrical pulses to the heart during the absolute refractory period of the beating cycle, just after the heart contracts. This breakthrough technology has the potential to improve the quality of life for patients who are no longer adequately responding to medications to manage their symptoms or slow the progression of their condition.3
About Impulse Dynamics
Impulse Dynamics, based in Marlton, N.J., is dedicated to helping healthcare providers improve the lives of people with heart failure by transforming how the condition is treated. The company has pioneered CCM® therapy, which is delivered by the company’s Optimizer® system, a breakthrough, FDA-approved treatment that is proven to improve the quality of life for heart failure patients.3 CCM therapy is a safe and effective minimally invasive treatment option for many heart failure patients who otherwise have few effective options available to them.3 To learn more visit www.impulse-dynamics.com, or follow the company on LinkedIn and Twitter.
2 Mozzafarian D, Benjamin EJ, Go AS, et al. on behalf of the American Heart Association Statistics Committee and Stroke Statistics Subcommittee. Heart disease and stroke statistics—2016 update: a report from the American Heart Association. Circulation. 2016; 133:e38-e360.
3 Abraham WT, Kuck KH, Goldsmith RL, et al. A randomized controlled trial to evaluate the safety and efficacy of cardiac contractility modulation. JACC Heart Failure. 6(10), 874-883 (2018).