Endotronix Raises Financing for the Treatment of Heart Failure Devices

September 14, 2018—Endotronix, Inc. announced the close of a Series D financing round totaling $45 million, which supports the commercialization of the Cordella heart failure system and the clinical development of the Cordella pulmonary artery sensor through European CE Mark and United States FDA premarket approval. The financing also supports the company's upcoming landmark randomized, controlled, clinical study, PROACTIVE-HF, to demonstrate the safety and effectiveness of proactive heart failure management.

The product platform consists of a remote patient management software solution coupled with an integrated, next-generation implantable pulmonary artery sensor to streamline heart failure care management and provide early detection of worsening heart failure.

The Cordella system is designed to address inefficiencies in heart failure management and promote guideline-based therapy so physicians can improve patient care and reduce rehospitalizations with effective and scalable remote patient management.

Earlier, the company announced the successful first-in-human use of the Cordella Sensor in Europe and the first commercial use of the Cordella system at select sites in the United States.

The round was led by LSP, investing from its LSP Health Economics Fund 2, and included Aperture Venture Partners, BioVentures Investors, Lumira Ventures, OSF Ventures, Seroba Life Sciences, SV Health Investors, Wanxiang Healthcare Investments, and an unnamed corporate strategic investor. Endotronix will expand the board of directors to include Fouad Azzam, PhD, General Partner at LSP.