US-based cardiac implant developer Impulse Dynamics has completed a $60m supplemental series D round anchored by CR-CCT Industry Pilot Fund, a partnership between state-backed conglomerates China Resources Group and China Chengtong.
The round closed in late December but was only disclosed this week. It was also backed by Redmile Group, Perceptive Advisors and undisclosed new investors.
Founded in Germany, Impulse Dynamics has developed an implantable device used in the treatment of patients with chronic heart failure. Its Optimizer Smart device is implanted under the skin of the chest and can improve contractions in the heart by delivering timed electrical pulses.
The funding will be used to speed up Impulse Dynamics’ clinical and product development activities as well as for the commercialisation of its Optimizer Smart devices. It has received at least $217m of funding in total.
The company raised $2.1m from undisclosed investors in 2004 according to a regulatory filing, and closed a $30m round in 2016 led by a fund established by property development executive Peter Lee Ka Kit.
Impulse Dynamics received $45m the following year in a round led by investment bank Citic Securities’ Goldstone Investment subsidiary with participation from unnamed institutional investors.
Amzak Health Investors led a $80.3m series D round for the company in late 2019 that featured automotive parts manufacturer Minth Group and medical device makers Zoll Medical and Abiomed as well as an unnamed corporate investor.
Wellington Management provided $25m of equity and debt financing as a part of the first series D close while Kennedy Lewis Investment Management, Acorn Biosciences and Impulse Dynamics executives including CEO Simos Kedikoglou also participated in the round.