Digital health company Endotronix closed a $32 million Series C, which will go toward developing and commercializing its heart failure management system.
Existing and new backers participated in the round, including BioVentures Investors, SV Life Sciences, Lumira Capital, Aperture Venture Partners and OSF Ventures.
Endotronix’s system comprises a small implantable sensor for the pulmonary artery and a cloud-based patient management system. The sensor is implanted via catheterization and measurements are displayed on a portable reader about the size of a mobile device, according to the company. The reader will transmit power wirelessly to the sensor, while the sensor transmits blood pressure measurements to the reader. The data is then sent wirelessly and securely to the Endotronix clinical care management software, used by the patient’s healthcare provider.
“The Series C financing will fund our clinical program including commercialization of our cloud-based outpatient management system and the safety and feasibility study for our implantable wireless pulmonary artery sensor,” Endotronix CEO Harry Rowland said in a statement. The system is currently not available in the U.S.
According to the NIH, about 5.7 million people in the U.S. suffer from heart failure, which is characterized by the inability of the heart to pump enough blood to support the body. “Real-time monitoring of pulmonary artery pressures has been shown to reduce heart failure hospitalizations by as much as 37%,” the company said in the statement. Endotronix’s platform combines daily monitoring of pulmonary artery pressure with enhanced communication between patients and caregivers to potentially ward off heart failure events.
“Patient-friendly, wireless solutions that provide early detection and link the physician and patient in continuous communication have enormous potential for the management of chronic heart failure,” said Dr. Leslie Saxon, a professor of medicine at the University of Southern California in the statement. “The Endotronix solution optimizes the inefficient management and communication pathways that currently plague both patients and physicians.”
- read the statement
Medtronic launches heart failure management service in U.S.
St. Jude touts favorable outcomes study of CardioMEMS heart failure monitor
St. Jude's CardioMEMS heart failure monitor denied Medicare coverage in 11 states