Impulse Dynamics said last week that it raised $30 million for its Optimizer IVs implantable heart failure device, led by the Hong Kong investment fund of real estate developer Peter Lee Ka Kit.
Stuttgart, Germany-based Impulse said it plans to use the proceeds to expand its commercial footprint for the device, which 1st won CE Mark approval in the European Union back in 2002.
The Optimizer IVs is designed to remodel the myocardium to increase the heart’s efficiency, using what the company calls “cardiac contractility modulation” – non-excitatory electrical pulses delivered to the heart muscle.
“We are excited to welcome Dr. Peter Lee Ka Kit as an investor in Impulse Dynamics. It is a reaffirmation of the value of CCM therapy for patients and healthcare systems globally,” CEO Dr. Simos Kedikoglou said in prepared remarks. “CCM is a well-established technology that meets a major need. Our lead investor in this round will play a crucial role in making CCM technology more widely available to heart failure patients especially in China.”
“There is a significant need for a device-based technology that can offer symptom relief to heart failure patients who no longer respond to optimal medical therapy,” Lee added. “The Optimizer device is a unique technology that addresses this unmet need. We look forward to supporting Impulse in its commercial and clinical efforts globally and specifically in the Chinese market.”
Impulse Dynamics said it also plans to use the proceeds on product development and its clinical program. The company is running a pair of studies examining the Optimizer technology, according to ClinicalTrials.gov. The 230-patient Fix-HF-5C study, designed to compare the Optimizer therapy with standard medical care, is slated for final data collection next month; the 428-subject Fix-HF-5 study, with a primary safety endpoint of all-cause mortality, is due for final data collection in June 2017.
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