Medical technology company Endosense has secured $40.3m in Series C financing, led by new investor NGN Capital.
The company’s existing investors including Rothschild Investment Partners, NeoMed Management, Gimv, VI Partners, Sectoral Asset Management, Ysios Capital Partners and Initiative Capital Romandie have joined the financing round.
The finance will be used by the company to support the growth of a new direct sales organization in Europe, develop next generation products, complete the TOCCASTAR investigational device exemption clinical study follow-up and FDA approval submission for the TactiCath as well as the launch of the device in the US.
Endosense president, chief executive officer and chairman Jan Keltjens said electrophysiology and atrial fibrillation are the growing areas in cardiovascular intervention.
"Endosense’s force-sensing technology is designed to shorten procedure times and deliver better outcomes and, as such, provides a major growth opportunity," Keltjens added.
"We are well positioned for rapid and sustained growth in Europe with our next generation TactiCath Quartz, which will be commercialized and supported by our new direct sales force, and we are enthusiastic about our prospects for expansion into the United States."
In addition to the financing round, NGN Capital managing general partner Peter Johann has joined the company’s board of directors.
Endosense board director member Peter Johann said the company’s proprietary force-sensing technology is believed to improve standard of care in the catheter ablation treatment of cardiac arrhythmias.
"We believe that the company’s strong leadership, deep body of clinical evidence and strategic vision for growing the field will yield significant value and deliver important benefit to electrophysiologists and patients around the world," Johann added