US-based medical device company CircuLite raised $30m last Wednesday in a series D round funded by investors including Crédit Agricole Private Equity, the private equity division of the French banking group and ABN Amro spin-out Forbion Capital Partners.
Forbion is the largest investor in the company and the pair of investors were joined by SB Life Science Ventures, Saints Capital and Foundation Medical Partners, and MacAndrews & Forbes Holding, which acts as the investment holding company for investor Ron Perelman.
Prior to the latest round, CircuLite had raised $65.75m, with participation from investors including Crédit Lyonnais Venture Capital, the corporate venturing fund belonging to the France-based bank later acquired by Crédit Agricole, VC firm Oxford Bioscience Partners and VC fund Giza Venture Capital.
CircuLite’s lead product is Synergy, the world’s smallest surgically implanted blood pump, for patients suffering from heart disease. CircuLite will use the financing from the series D round, which was oversubscribed, to support Synergy’s commercial launch in Europe and regulatory testing for the US market.
In conjunction with the investment, Eric A. Rose, executive vice president of life sciences at MacAndrews & Forbes, and Michael C. Borofsky, senior vice president of MacAndrews & Forbes, will join CircuLite’s board of directors.