Norgine Ventures completes €3 Million Financing With PulseCath
London. 10 October 2016, 09.00 AM BST. Norgine Ventures announced that it has provided financing of up to €3 million to PulseCath B.V.. This investment recognises the unique positioning of PulseCath’s cardiac assist devices and the growth potential of the company.
PulseCath, based in the Netherlands, develops and commercialises innovative left ventricle assist devices. The lead product, iVAC 2L, is used percutaneously and provides haemodynamic support during cardiogenic shock or high-risk percutaneous coronary interventions. PulseCath devices have a novel design based on pulsatile flow, which is more homogenous with the natural pumping functions of the heart. iVAC 2L is CE-marked and commercialised by Terumo in certain European territories.
The funding from Norgine Ventures will enable PulseCath to accelerate its commercial growth and entry into the US market.
Norgine Ventures is an entity of the Norgine group.
Peter Stein, CEO at Norgine, said: “We are pleased to invest in PulseCath and thereby support an innovative start-up which delivers a truly differentiated product providing short-term circulatory support and can meaningfully improve healthcare outcomes for the patients”. He added: “PulseCath’s technology has the potential to bring superior treatment options to more patients due to ease of use and compatibility with existing operating room infrastructure. We hope that increasing adoption of iVAC devices will contribute to real improvement in the healthcare systems and enable better treatment for patients undergoing percutaneous coronary interventions.”
Yoram Karmon, PulseCath CEO, said: “Norgine Ventures’ investment will help us accelerate our commercial growth and fund clinical studies required for the approval of iVAC 2L in the US’’. He further added: “This investment is another validation of our unique technology, which enables better heart support via a safer, percutaneous approach and which is cost effective to hospitals as the device is compatible with a standard IABP console.’’
Notes to Editors:
For further information please contact
Julien Michaux, Norgine Ventures, T : +441895826600, email@example.com
Aneta Sottil, Norgine Ventures, T: +441895826600, firstname.lastname@example.org
Yoram Karmon, +31 204 037 540 , email@example.com
Isabelle Jouin, Norgine Corporate Communications, T: +441895453643
Charlotte Andrews, Norgine Corporate Communications, T: +441895453607
Norgine is a European specialist pharmaceutical company that has been established for over 100 years. In 2015, Norgine’s total revenue was EUR 320 million and the company employs over 1,000 people.
Norgine provides expertise and ‘know how’ in Europe to develop, manufacture and market products that offer real value to healthcare professionals, payers and patients. Norgine’s approach and infrastructure is integrated and focused upon ensuring that Norgine wins partnership opportunities for growth.
Norgine is headquartered in the Netherlands and its global operations are based in Amsterdam and in Harefield, UK. Norgine owns a R&D site in Hengoed, Wales and two manufacturing sites, one in Hengoed, Wales and one in Dreux, France.
For more information, please visit www.norgine.com
In 2012, Norgine established a complementary business Norgine Ventures, supporting innovative healthcare companies through the provision of debt-like financing in Europe and the US. For more information, please visit www.norgineventures.com.
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PulseCath® is the developer of ground-breaking technologies to assist the life sustaining pumping functions of the failing heart. The Company holds rights to the invention of the iVAC system, a broad base proprietary technology to fill the void in cardiac assist, between the low end intra-aortic balloon pump (IABP) and the complex, expensive implantable, or external ventricular assist devices (VAD).The iVAC product collection offer the advantage of greater cardiac output than IABP, with increased end-organ perfusion, mechanical unloading of the heart and optimization of conditions for myocardial recovery.
iVAC 2L™ Femoral
The iVAC 2L is a short term minimally invasive transfemoral fully percutaneous catheter based cardiac assist, with a patented two-way valve that aspirates blood from the left ventricle and displaces it into the ascending aorta. It rapidly unloads the left ventricle and consequently increases effective forward flow of blood without causing any significant hemolysis.
For further information, please visit www.pulsecath.com .