|[November 27, 2012]
Endosense Secures USD 40.3 Million/CHF 37.4 Million Series C Financing
GENEVA --(Business Wire)--
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
"The global market for electropysiology 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.
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