US-based patient management technology developer Endotronix closed a $32m series C round yesterday with participation from OSF Ventures, the corporate venturing division of healthcare corporation OSF Healthcare.
The round also featured another, undisclosed strategic corporate investor, as well as BioVentures Investors, SV Life Sciences, Lumira Capital, Aperture Venture Partners and unnamed existing shareholders.
Founded in 2007, Endotronix operates a cloud-based patient management system that connects to an implantable pulmonary artery sensor. The technology enables real-time monitoring of heart failure patients so as to detect any worsening in their conditition.
Endotronix had previously secured approximately $12.5m in combined equity funding and debt financing, according to regulatory filings. Earlier investors included Luxemburg Capital.
Harry Rowland, chief executive of Endotronix, said: “We are pleased to welcome these high caliber medtech investors and our new board members.
“The series C financing will fund our clinical program including commercialisation of our cloud-based outpatient management system and the safety and feasibility study for our implantable wireless pulmonary artery sensor.”
Paul LaViolette, managing partner at SV Life Sciences, has joined Endotronix’s board of directors as chairman.
Garry Brunk, managing director at Lumira, Mark Goldberg, general manager and co-founder of BioVentures, as well as a representative for Luxemburg Capital and an independent individual have also joined the board.