US-based patient management technology developer Endotronix has closed a $45m series D round backed by healthcare provider OSF Healthcare and auto components producer Wanxiang.
LSP led the round through its LSP Health Economics Fund 2 and was joined by an additional, unnamed corporate investor as well Aperture Venture Partners, BioVentures Investors, Lumira Ventures, Seroba Life Sciences and SV Health Investors.
OSF Healthcare took part through its corporate venturing unit OSF Ventures, while Wanxiang participated through its Wanxiang Healthcare Investments division.
Founded in 2007, Endotronix has created a cloud-based patient management platform, Cordella System, that relies on an implantable pulmonary artery sensor to monitor patients who have suffered from heart failure to detect any worsening in their condition.
The funding will go towards the commercialisation of Cordella System and the clinical development of the sensor in the European Union and the US. Fouad Azzam, general partner at LSP, will join the board of directors.
Endotronix closed a $37.1m series C round in February 2018, having secured an initial $32m in 2016 from investors including OSF Ventures, BioVentures, SV, Lumira, Aperture, an undisclsoed corporate backer and unnamed existing shareholders.
Endotronix had previously secured approximately $12.5m in equity and debt financing according to regulatory filings. Central Illinois Angels provided $400,000 in funding in 2010 in the same week as JumpStart Ventures supplied $250,000.
Luxemburg Capital has also been identified as an earlier backer, though details about its involvement could not be ascertained.