• 21 November 2005
    Endosense completes CHF 26 million (USD 20 million) fundraising backed by 3i and NeoMed

    Endosense, an emerging cardiovascular device company, today announced the closing of a CHF 26 million (USD 20 million) financing with 3i and NeoMed. Endosense, set up in 2003, is developing a Force Sensor ablation catheter for use in the field of cardiac arrhythmia.

    Eric Le Royer, newly appointed CEO and previously Vice President of Marketing at Guidant, will join CTO Giovanni Leo on the board, together with Dina Chaya of 3i, that led the financing, and Claudio Nessi of NeoMed.

    “This financing represents a major milestone for Endosense,” commented Eric Le Royer. “We are very pleased to have secured this financing with 3i and Neomed. It will enable Endosense to bring to market a major technological advance in the catheter treatment of atrial fibrillation, an extremely prevalent and debilitating cardiac disease. For the first time, our unique catheter will provide the physician with an objective and real-time measure of contact between the catheter and the beating heart wall.”

    More than 5 million patients globally suffer from atrial fibrillation, the most prevalent cardiac arrhythmia that impairs patients’ quality of life and ultimately causes stroke and heart failure. Percutaneous catheter ablation is an emerging curative therapy which al- lows patients to resume a normal life and reduces healthcare costs. In 2005, around 1% of patients were treated by percutaneous catheter ablation. Endosense’s Force Sensor ablation catheter has the potential to increase the uptake of this treatment by improving the safety and efficacy of the procedure.

    “Endosense’s product could be fundamental to the international adoption of percutane- ous catheter ablation, a market that is projected by expert analysts to have the potential to exceed a billion dollars in sales over the next decade,” stated Dina Chaya. “We have worked extensively with the Endosense team to identify device opportunities for the treatment of atrial fibrillation. The Force Sensor ablation catheter quickly emerged as a potential breakthrough”.Claudio Nessi added “Endosense management has demonstrated strong leadership dur- ing their past experience in both major company and entrepreneurial settings. The team starts with a unique set of product development, marketing, and clinical capabilities extremely promising for a strong execution and the success of Endosense.”