RESEARCH TRIANGLE PARK, N.C., Jan. 29 /PRNewswire/ -- InnerPulse, Inc,
a privately held company developing unique technologies for the treatment
of abnormal heart rhythms, announced today the closing of $50 million in
new equity financing. The new capital will be used for the completion of
the Company's novel implantable defibrillator and to support the
infrastructure required to advance the Company from its early developmental
phase to human clinical trials and commercialization.
The syndicate of investors included Johnson & Johnson Development
Corporation, Medtronic, Inc., Synergy Life Science Partners, Ascent
Biomedical Ventures, Delphi Ventures and Frazier Heathcare Ventures.
Additionally, Boston Scientific and Greatbatch, Inc. remain significant
stockholders of InnerPulse.
InnerPulse is pioneering a promising new technology that has the
capacity to change how patients with cardiac rhythm disorders are treated.
The Company's products employ an innovative technology to simplify the
implant utilizing a minimally invasive approach that shortens the
procedure, reduces post implant discomforts, and renders the device
invisible. The minimally invasive nature of the technology will expand the
number of implanting physicians, thereby providing access to more patients
who critically need defibrillator technology.
InnerPulse was founded in 2003 and has moved the development of the
first product, the Percutaneous Implantable Cardioverter Defibrillator
(PICD)(TM), through early development stage. Dan Pelak, President and CEO,
commented: "We are very pleased with the quality of our investors and the
level of financing we have achieved. InnerPulse has made significant
progress to date and now has the resources to execute on our business plan
with a focus towards the commercialization of our first generation product.
This funding will allow our company the ability to commercialize a
technology that will save the lives of many individuals with heart
About InnerPulse, Inc
Founded in 2003, InnerPulse is a privately held, early-stage company
pioneering an alternative to traditional electrophysiological devices. More
information is available at www.inner-pulse.com.
Contact: Benny Ward, V.P. & C.F.O Len Hall (media)
InnerPulse, Inc Allen & Caron Inc
919 287 4111 949 474 4300
SOURCE InnerPulse, Inc