Endotronix

Established: 2007

Investors: Seroba, SV Health Investors, EQT, Lumira Venture, Aperture Venture Partners LLC, OSF HealthCare, Wanxiang America Healthcare Investments, Edwards Lifesciences, BioVentures Investors

Endotronix, a digital health medtech company, is developing an integrated platform to provide comprehensive, reimbursable health management tools for patients suffering from advanced heart failure (HF).

26 million people worldwide have HF, and 10% of patients have advanced HF with high risk in hospitalization. $70 billion represents the projected US costs for HF by 2030. The Cordella™ Heart Failure System developed by Endotronix includes a cloud-based disease-management system and an implantable wireless pulmonary artery pressure sensor. The seamlessly integrated system enables proactive management via early detection of worsening heart failure and secure & efficient communication with daily results transmitted to clinicians. It promotes ongoing therapeutic interventions to improve quality of life, reduce hospital readmissions, and lower care costs.

136

employees

>500

implanted patients with the CordellaTM PA Sensor worldwide

$102m

from Series C & D financing rounds

At Endotronix, we firmly believe that innovation can drive patient care excellence in the home and ultimately change outcomes for patients with heart failure, one of the largest cost categories in healthcare. The FDA’s approval validates this foundational belief and is a major milestone for our company and the field of HF management.

Key achievements

June 2007: Anthony Nunez, MD, a cardiothoracic surgeon, and Harry Rowland, PhD, a mechanical engineer, founded Endotronix. They were inspired to start the company after witnessing family members suffer from heart failure (HF).
July 2008: Completed licensing for 2 patents from NASA for ultra miniature wireless sensor design
April 2013: Received a US patent for its breakthrough wireless sensor reader technology from USPTO
July 2015: Completed an in-vivo study of the 1st generation sensor study
July 2016: Closed $32m Series C financing round from VCs and Limited Partners; established Irish subsidiary which was actively involved in clinical trials in Europe
December 2017: FIH use of the CordellaTM PA Pressure Sensor in Belgium
September 2018: Closed $45M Series D financing round, later extended to $70m to include an unnamed medtech strategic investor
July 2019: FDA approval of pivotal PROACTIVE-HF IDE Trial
January 2023: Implanted 500th CordellaTM PA Sensor worldwide
October 2023: FDA approval of market expanding PROACTIVE-HF 2 Clinical Trial to NYHA Class II HF patients
June 2024: Received PMA approval from the FDA for its CordellaTM PA Sensor for use in NYHA Class III patients (patients with significant limitation of action, unable to perform normal activities)
July 2024: Endotronix acquired by Edwards Lifesciences
TBA: CE mark approval

Funding history

Seroba invested early in Endotronix – pre-First in Human- during its Series C - $32 million - and supported the company through its development, participating in Series D, towards its PMA approval from the FDA for the Cordella platform last June 2024, one month before Edwards Lifesciences announced its acquisition.

Anthony Nunez, MD, a cardiothoracic surgeon, and Harry Rowland, PhD, a mechanical engineer, met in February 2007. They were inspired to start the company after witnessing family members suffer from heart failure (HF). They co-founded Endotronix in June 2007. Harry Rowland is current CEO & co-Founder of Endotronix as well as Board member.
July 2016 $32m Series C: Seroba is amongst the VC investors in Series C including SV Health Investors, Lumira Venture, BioVentures Investors, Aperture Venture Partners LLC. Board seat for Jennifer McMahon, Partner at Seroba. Paul La Violette, Managing Partner at SV Health Investors, is Chairman of the Board. At this point the company also established its European subsidiary in Ireland.
September 2018 $45m Series D LSP – now EQT Group, Wanxiang America Healthcare Investments alongside existing investors such as Seroba, SV Health Investors etc. in 2019 the Series D was expanded to $70m to include an unnamed medtech strategic investor
July 2024 Endotronix acquired by Edwards Lifesciences for $600m in aggregate cash plus an additional $75M milestones. This is the 2nd major exit for Seroba in 2024, following Fusion Pharmaceutical acquisition by Astra Zeneca for $2.4bn earlier this year.