Financings in Brief: Cardiac Control Systems
This article was originally published in The Gray Sheet
Executive Summary
Cardiac Control Systems: Inks agreement with an undisclosed "leading manufacturer of medical devices for the treatment of cardiac arrhythmias" under which CCS will supply a permanent implantable defibrillation lead for incorporation in the larger firm's implantable cardioverter defibrillator. CCS' lead is designed "to sense ventricular rhythms and carry therapeutic pacing or defibrillation currents as required." CCS also enters a joint development pact to incorporate its technology into advanced ICD systems. Under terms of the agreements, CCS' partner makes an equity investment in CCS, purchasing 40,000 shares of the company at $5 per share...