Remote heart monitoring, management device maker Endotronix lands $45 million

Endotronix lands $45 million to launch its Cordella Heart Failure System and further development of its Cordella Pulmonary Artery Sensory system.
By Laura Lovett
Share

This morning maker of heart failure management and remote monitoring devices Endotronix scored $45 million in a Series D financing round led by LSP, with participation from Aperture Venture Partners, BioVentures Investors, Lumira Ventures, OSF Ventures, Seroba Life Sciences, SV Health Investors, Wanxiang Healthcare Investments, and an unnamed corporate investor.

“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 statement. “This financing accelerates our US and EU 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.”

The new money is going to be used to launch Cordella Heart Failure System, which is made up of a wireless pulmonary artery sensor and a cloud-based outpatient management system. The system is designed so that patients, caregivers, and physicians who see the data can communicate and tailor the programs. The system has both an at-home patient app that shows pulmonary artery pressure, blood pressure, pulse, blood oxygen, and weight, as well as a clinical portal for physicians to view clinical data and communicate with patient. 

The latest financing will also help the company put its latest product, the Cordella Pulmonary Artery Sensory system, through the FDA process. 

This isn’t the company’s first major funding round. In July of 2016 the company landed $32 million in funding and then another $12 million in funding in January 2017. 

This morning the company also announced that Foud Azzam, a general partner at LSP, will be joining its board. 

“Endotronix is on the cusp of transforming heart failure management,” Azzam said in a statement. “Their scalable Cordella System enables streamlined and timely flow of clinical-level information that can improve patient outcomes and supports sustainable care delivery revenue for healthcare providers. We’re excited to be part of the team to drive this transformation in the heart failure market.”