US-based cardiac implant developer Impulse Dynamics completed an $80.3m series D round yesterday that featured automotive parts manufacturer Minth Group and medical device producers Zoll Medical and Abiomed.
The round was led by Amzak Health Investors, a medtech-focused vehicle formed by private equity and asset management group Amzak Capital Management, and included an unnamed corporate investor.
Investment manager Wellington Management contributed $25m in equity and debt financing to the round while Kennedy Lewis Investment Management and Acorn Biosciences also invested, alongside Impulse’s CEO and chief financial officers.
Founded in Germany, Impulse Dynamics has created an implant to treat class III heart failure patients whose capacity for physical activity has been markedly limited, while aiming to minimise side effects associated with existing drug treatments.
The implant, dubbed Optimizer Smart, is inserted into the patient’s chest and emits pulses that strengthen the heart and help it beat more forcibly, a technique known as cardiac contractility modulation.
The company will devote the series D cash to commercial activity as it prepares to launch the device in the US, building on regulatory approval from the US Food and Drug Administration and health insurance board Centers for Medicare and Medicaid Services.
Joyce Erony, managing partner at Amzak Health Investors, has joined Impulse Dynamics’ board of directors in conjunction with the round.
Impulse Dynamics raised $45m in a funding round led by Goldstone Investment, a fund managed by investment bank Citic Securities, that closed in mid-2017 with backing from unnamed institutional investors.
The company had completed a $30m round the year before that was led by a fund formed by property development executive Peter Lee Ka Kit. It secured $2.1m from undisclosed investors in 2004, according to a regulatory filing.
Image courtesy of Impulse Dynamics.