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.”
