Funding to Accelerate Clinical and Product Development Pipelines, Commercialization of Optimizer Smart System for Heart Failure
MARLTON, N.J., January 12, 2021 — Impulse Dynamics, a company dedicated to helping healthcare providers improve the lives of people with heart failure, today announced the completion of a $60 million supplemental Series D crossover financing with new investors, anchored by CR-CCT Industry Pilot Fund together with Redmile Group and Perceptive Advisors. Proceeds of the financing will be used for general corporate purposes, including acceleration of clinical and product development activities along with continued U.S. commercialization of the Optimizer Smart, an FDA-approved implantable device for treating chronic heart failure that has been proven to strengthen the heart and help it beat more forcibly.
The transaction closed in late December. “We are extremely pleased to be adding these sophisticated investors to our robust existing group, all of whom recognize the significant potential of our breakthrough technologies for an immense group of patients with major unmet needs.” said Gerry Haines, CFO of Impulse Dynamics. “With our mature product development pipeline and two additional breakthrough designations, it is exciting to see the potential for cardiac contractility modulation therapy to play an even larger role in improving the lives of patients who continue to suffer with this debilitating disease. We look forward to accelerating key development activities, designed to serve new and larger groups of patients in need, in parallel with the continuing expansion of our commercial operations.”
Heart failure is a chronic and progressive condition affecting an estimated 26 million people worldwide, with nearly 6 million of those in the U.S. alone.1,2 For people living with the disease, the heart is not able to pump forcibly enough to meet the body’s needs. Over time, this leads to symptoms including breathlessness and fatigue, making even simple, everyday activities challenging. For eligible patients, CCM® therapy with the Optimizer® Smart provides a new alternative to alleviate symptoms and improve quality of life, bringing hope to millions.
The Optimizer® delivers CCM® therapy, the company’s proprietary technology, to the heart through a device is similar in size to a pacemaker. It is implanted during a minimally invasive procedure while a patient is under light sedation and has been used to treat over 5,000 patients worldwide. It is currently available in the United States, Europe, China, Brazil, India and more than 40 other countries around the world.
CCM® therapy is the first approach of its kind designed to improve contraction of the heart, allowing more oxygen-rich blood to reach the body.3 CCM® therapy delivers precisely timed electrical pulses to the heart during the absolute refractory period of the beating cycle, just after the heart contracts. This breakthrough technology has the potential to improve the quality of life for patients who are no longer adequately responding to medications to manage their symptoms or slow the progression of their condition.3
About the Optimizer® and CCM® Therapy
The Optimizer Smart system delivers CCM therapy — the company’s proprietary technology — to the heart. CCM therapy has been designed by Impulse Dynamics to significantly improve the heart’s contraction, allowing more oxygen-rich blood to be pushed out through the body. CCM therapy is indicated to improve the 6-minute hall walk, quality of life, and functional status of NYHA Class III heart failure patients who remain symptomatic despite guideline-directed medical therapy, are not indicated for CRT, and have a left ventricular ejection fraction ranging from 25 to 45 percent.
CCM is the brand name for cardiac contractility modulation — the non-excitatory electrical pulses delivered by the implantable Optimizer device to improve heart contraction. CCM therapy sends unique electrical pulses to the heart cells during the absolute refractory period. In doing so, CCM helps the heart contract more forcibly. Impulse Dynamics has completed numerous clinical studies, including several randomized controlled trials, and CCM therapy has been published in more than 120 peer-reviewed journal articles.
About Impulse Dynamics
Impulse Dynamics is dedicated to advancing the treatment of heart failure for patients and the healthcare providers who care for them. The company pioneered its proprietary CCM therapy, which uses the Optimizer platform to improve quality of life in heart failure patients. CCM therapy is delivered through the Optimizer system, which includes an IPG implanted in a minimally invasive procedure and approved for commercial use in the United States and 44 countries worldwide. CCM therapy has proven safe and effective for heart failure patients with debilitating symptoms who otherwise have few effective options available to them. To learn more, visit www.ImpulseDynamics.com, or follow the company on LinkedIn, Twitter, and Facebook.
This press release contains forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘anticipate,’’ ‘‘could,’’ ‘‘intend,’’ ‘‘target,’’ ‘‘project,’’ ‘‘contemplate,’’ ‘‘believe,’’ ‘‘estimate,’’ ‘‘predict,’’ ‘‘potential’’ or ‘‘continue’’ or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements include, but are not limited to, statements concerning potential benefits of CCM therapy, the continued momentum for the adoption of CCM therapy and use of the Optimizer Smart system globally; the ability for CCM therapy and our products and technology to fill a significant unmet medical need for patients with heart failure; and the short-term and long-term benefits of the Optimizer system and CCM therapy in patients with heart failure, as well as to the physicians treating those patients. These forward-looking statements are based on management’s current expectations and involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Other important factors that could cause actual results, performance or achievements to differ materially from those contemplated in this press release include, without limitation: the company’s future research and development costs, capital requirements and the company’s needs for additional financing; company’s ability to expand and grow its business into new geographic markets; commercial success and market acceptance of CCM therapy; the company’s ability to achieve and maintain adequate levels of coverage or reimbursement for its Optimizer systems or any future products the company may seek to commercialize; competitive companies and technologies in the industry; the company’s ability to expand its indications and develop and commercialize additional products and enhancements to its current products; the company’s business model and strategic plans for its products, technologies and business, including its implementation thereof; the company’s ability to expand, manage and maintain its direct sales and marketing organization; the company’s ability to commercialize or obtain regulatory approvals for CCM therapy and its products, or the effect of delays in commercializing or obtaining regulatory approvals; FDA or other U.S. or foreign regulatory actions affecting us or the healthcare industry generally, including healthcare reform measures in the United States and international markets; the timing or likelihood of regulatory filings and approvals; and the company’s ability to establish and maintain intellectual property protection for CCM therapy and products or avoid claims of infringement. The company does not undertake any obligation to update forward-looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein. These forward-looking statements should not be relied upon as representing the company’s views as of any date subsequent to the date of this press release.
Impulse Dynamics (USA), Inc.
50 Lake Center Executive Park, 401 Route 73 N, ‐ Building 50 Suite 100
Marlton, NJ 08053
Phone: (856) 642‐9933
Global Vice President, Marketing
Manager, Public Relations
2 Mozzafarian D, Benjamin EJ, Go AS, et al. on behalf of the American Heart Association Statistics Committee and
Stroke Statistics Subcommittee. Heart disease and stroke statistics—2016 update: a report from the American Heart
Association. Circulation. 2016; 133:e38-e360.
3 Abraham WT, Kuck KH, Goldsmith RL, et al. A randomized controlled trial to evaluate the safety and efficacy of
cardiac contractility modulation. JACC Heart Failure. 6(10), 874-883 (2018).