CircuLite’s micropump closer to EU launch with series C
This article was originally published in Clinica
Executive Summary
CircuLite, a Saddle Brook, New Jersey company developing a micropump to help circulation in severe heart failure patients, has closed its series C financing round with total commitments of $32.5m. The round, which was initiated in early 2009, was led by Forbion Capital Partners. CircuLite’s existing shareholders – Crédit Agricole Private Equity, Foundation Medical Partners, Oxford Bioscience Partners – also participated in the financing, along with several private investors. The proceeds will enable CircuLite to complete the ongoing clinical trial of its Synergy pocket micropump and gain CE marking for European commercialisation, as well as begin IDE (investigational device exemption) studies in the US. According to CircuLite, Synergy is the first implantable system designed to provide partial circulatory support for long-term use by class IIIb and early class IV heart failure patients. The company said it will be introducing a new-generation Synergy, which features enhancements resulting from its ongoing product development efforts.