LISLE, Ill, Oct. 1, 2019 /PRNewswire/ -- Endotronix, Inc., a digital health, medtech company dedicated to advancing the treatment of heart failure (HF), today announced the expansion of its Series D financing round, bringing the total for the round to $70 million. The expansion syndicate for the LSP-led round includes new investment from
"Endotronix has built a strong syndicate of both institutional and strategic investors who believe in the benefits of remote heart failure management with the Cordella Sensor and System," commented Fouad Azzam Ph.D., General Partner at LSP. "The team is set to deliver an elegant solution that we believe will show a definitive benefit in reducing heart failure related hospitalizations and improving outcomes for patients and clinicians."
The Cordella System is designed to help patients suffering from heart failure feel better and stay out of the hospital with streamlined care and remote medication titration. The system provides a comprehensive health status of the patient at home with easy-to-use tools to securely collect and share health-related data with healthcare providers for trend-based management. The Cordella Sensor seamlessly integrates pulmonary artery (PA) pressure data into the Cordella System. Together, they proactively deliver the information necessary to improve patient care between office visits and support reimbursement for care delivery activities.
"Heart failure care providers are seeking better solutions to manage patients and we believe the Cordella System with PA pressure-guided management delivers on that need," stated Harry Rowland, CEO at Endotronix. "This financing expansion allows us to execute on the PROACTIVE-HF trial to provide the highest level of clinical evidence which will redefine the standard of care for heart failure patients and accelerate our time to market."
Endotronix has two active clinical studies for the Cordella Sensor:
The Cordella System, without the sensor, is available for commercial use in the U.S. and E.U. and is currently in cardiology centers across the U.S. The Cordella Sensor is an investigational device and is not available for commercial use in any geography. CAUTION Investigational device. Limited by Federal (or United States) law to investigational use.
About Endotronix, Inc.Endotronix, Inc., a medical technology company, delivers an integrated platform that provides comprehensive health management innovations for chronic heart failure. Their solution, the CordellaŽ Heart Failure System, includes a cloud-based disease management data system and at-home hemodynamic management via a breakthrough implantable wireless pulmonary artery pressure sensor for early detection of worsening heart failure. Learn more at www.endotronix.com.
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SOURCE Endotronix, Inc.