Endosense secures $40.3 million Series C financing
ENDOSENSE SECURES USD 40.3 MILLION/CHF 37.4 MILLION SERIES C FINANCING
GENEVA – November 27, 2012 – Endosense, a pioneer and leader in force-sensing technology focused on improving the efficacy and safety of catheter ablation for the treatment of cardiac arrhythmias, has announced the close of a USD 40.3 million/CHF 37.4 million series C financing. Led by new investor NGN Capital, the round drew large participation from all existing investors, including Edmond de Rothschild Investment Partners, NeoMed Management, Gimv, VI Partners, Sectoral Asset Management, Ysios Capital Partners and Initiative Capital Romandie, as well as multiple employees. Proceeds will be used to support the growth of a new direct sales organization in Europe; commercialization of the recently introduced third-generation TactiCath Quartz force-sensing catheter in the region; development of next generation products; completion of the TOCCASTAR investigational device exemption (IDE) clinical study follow-up and FDA approval submission for the TactiCath; and, the launch of the device in the United States.
"The global market for electrophysiology and atrial fibrillation is one of the fastest growing areas in cardiovascular intervention. Endosense's force-sensing technology is designed to shorten procedure times and deliver better outcomes and, as such, provides a major growth opportunity. With this round, our investors have indicated their confidence in our ability to continue leading and advancing the field," said Jan Keltjens, president, chief executive officer and Chairman of Endosense. "We are well positioned for rapid and sustained growth in Europe with our next generation TactiCath Quartz, which will be commercialized and supported by our new direct sales force, and we are enthusiastic about our prospects for expansion into the United States."
As part of the financing activity, NGN Capital Managing General Partner Peter Johann, Ph.D. has joined the Endosense board of directors.
"Endosense's proprietary force-sensing technology holds tremendous promise to improve standard of care in the catheter ablation treatment of cardiac arrhythmias," said Dr. Johann. "We believe that the company's strong leadership, deep body of clinical evidence and strategic vision for growing the field will yield significant value and deliver important benefit to electrophysiologists and patients around the world."Separately, Endosense announced that the company will be presenting at the Piper Jaffray 24th Annual Healthcare conference in New York City on November 28, 2012.
Founded in Geneva in 2003, Endosense is a medical technology company focused on improving the efficacy, safety and accessibility of catheter ablation for the treatment of cardiac arrhythmias. The company pioneered the use of contact-force measurement in catheter ablation with the development of the TactiCath, the first force-sensing ablation catheter to give physicians a real-time, objective measure of contact force during the catheter ablation procedure. For more information, visit www.endosense.com.
Caution: In the United States, the TactiCath is an investigational device. Limited by Federal (or United States) law to investigational use.