Impulse Dynamics has announced the completion of a US$80.25 million Series D financing round with new investors. Proceeds will be used primarily to facilitate US commercialisation of the Optimizer Smart, an FDA-approved cardiac contractility modulation (CCM) therapy delivery device.
Led by medical technology investor Amzak Health Investors, the funding round also included Wellington Management, Kennedy Lewis Investment Management, Acorn Biosciences and Minth Holdings Limited; strategic investors Zoll Medical Corporation, Abiomed and one additional corporate investor; and the company’s chief executive and chief financial officers.
“This development brings encouraging news to the vast number of heart failure patients in the US and around the world who suffer poor quality of life and have run out of viable options to treat their disease,” said Simos Kedikoglou, CEO of Impulse Dynamics. “We are extremely pleased that our new strategic and financial investors recognise the significant potential of cardiac contractility modulation, or CCM therapy, with the Optimizer Smart. We look forward to accelerating the ramp-up of our commercial operations, particularly in the US where we are just entering the market thanks to our two recent FDA approvals and CMS Transitional Pass-through payment approval, to make this potential a reality for physicians and their patients.”
In connection with the financing, Joyce Erony, managing partner at Amzak Health Investors, will join the Impulse Dynamics board of directors. “This is a very exciting time for a company that has achieved significant milestones in 2019 and is now launching its product in the United States. We are very excited about the opportunity to improve the quality of life for heart failure patients with this breakthrough therapy and we look forward to joining the Impulse team.”
“With CCM, Impulse Dynamics has developed a very important new therapy for a large and growing patient population who until now have had no real treatment alternatives,” said Rich Gumer, managing director of Kennedy Lewis Investment Management, which has invested a combined $25 million of debt and equity in the company. “Our additional investment will help the company deliver a positive impact on a much larger scale – improving patient outcomes and generating significant savings to the healthcare system.”