Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
Endosense raises $36 million for TactiCath launch: European roll-out of Endosense's TactiCath force-sensing cardiac arrhythmia ablation catheter will be funded by a $36 million "Series B" private placement, announced Sept. 1. Proceeds also will be used for a U.S. clinical trial to support a PMA submission, according to the company. Headquartered in Geneva, Endosense received European CE mark approval in May for TactiCath treatment of supraventricular tachycardia of the right atrium. TactiCath "is the first and only force-sensing ablation catheter to give physicians a real-time, objective measure of contact force during the catheter ablation procedure," and it "has the potential to improve the effectiveness, safety and reproducibility" of treatment, according to Endosense. Founded in 2003, the firm estimates that the competitive, worldwide catheter ablation market is worth over $500 million annually. The financing round was led by Edmond de Rothschild Investment Partners