Endotronix just received a huge shot in the arm when it comes to supporting the commercialization of its heart failure system. The Lisle, IL-based company just closed on a series D financing round of $45 million.
This financing supports the commercialization of the Cordella Heart Failure System (Cordella System) and clinical development of the Cordella Pulmonary Artery Sensor (Cordella Sensor) through CE Marking and a PMA.
The product platform consists of a comprehensive remote patient management software solution coupled with an implantable pulmonary artery sensor to streamline heart failure care management and provide early detection of worsening heart failure.
The company said the patient management software is approved for use in the US and the system is currently in commercial use . Endotronix is on track to have CE Mark on the patient management system in 4Q18. The Cordella PA Sensor, is in an on-going first-in-human study in Europe. The company plans to start a CE Mark study in 4Q18 and have an IDE study in the US in early 2019.
"We are thrilled with the world-class leadership and support of LSP and our existing investor group as we launch into the next phase of our company," Harry Rowland, CEO of Endotronix said in a release. "This financing accelerates our U.S. and E.U. launch of the Cordella System and supports our upcoming landmark randomized, controlled clinical study, PROACTIVE-HF, to demonstrate the safety and effectiveness of proactive heart failure management."