EBR Systems Secures $30 Million in Funding to Advance World’s First Leadless Endocardial Cardiac Pacing System, WiSE CRT

On August 28, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that medical device company EBR Systems announced the completion of a $30 million financing round (the specific round was not disclosed). The round was led by Brandon Capital Partners and MH Carnegie & Co., with participation from Split Rock Partners, Ascension Ventures, and Emergent Medical Partners.

Following the completion of this financing round, EBR Systems will continue clinical trials of its leadless cardiac pacing system, WISE CRT, to evaluate its safety and efficacy and prepare for commercialization. Additionally, medical device expert John McCutcheon will serve as President and Chief Executive Officer of EBR Systems, while Allan Will, the company’s former Chairman and CEO, will assume the role of Executive Chairman.

It is reported that EBR Systems had previously completed eight rounds of financing. Among these, the company raised $50 million in November 2017 and $20 million in April 2015.

EBR Systems, established in 2003 and headquartered in Silicon Valley, USA, is a leading medical device company. The company is dedicated to developing devices for the treatment of arrhythmias and heart failure to improve patient outcomes.

Heart failure is a serious condition in which the electrical signals within the patient’s heart are disrupted, causing the ventricles to beat in an uncoordinated or dyssynchronous pattern, thereby reducing cardiac efficiency. Currently, an effective therapy for this condition is cardiac resynchronization therapy (CRT), which alleviates symptoms and reduces mortality by electrically stimulating the heart. Also known as biventricular pacing, CRT uses leads to synchronize the left and right ventricles, helping both chambers contract together and thus improving cardiac function.

Approximately 200,000 patients worldwide undergo conventional cardiac resynchronization therapy (CRT) annually, yet 30% of them derive no significant clinical benefit. Studies have identified the endocardium as the optimal site for left ventricular stimulation; however, placing leads within the left ventricle can lead to thrombus formation, myocardial infarction, or stroke. Furthermore, lead fracture or dislodgement may occur, resulting in complications for patients. Consequently, conventional CRT devices pace the left ventricle via the coronary sinus vein on the epicardial surface, leading to suboptimal therapeutic outcomes.

The WISE technology developed by EBR Systems is a leadless cardiac pacing technology. By eliminating pacing leads, this technology reduces the risk of complications and other adverse events during cardiac treatment.

EBR Systems has developed the leadless cardiac pacing device WISE CRT based on its WISE technology, which is the world’s only leadless endocardial stimulation cardiac pacing system. WISE CRT has currently received CE certification from the European Union.

Dr. Chris Nave, Partner at Brandon Capital Partners, stated, “EBR Systems’ technology holds the promise of revolutionizing the landscape of cardiac resynchronization therapy (CRT). We are encouraged by the clinical study results of the WISE CRT System, and Brandon Capital Partners will continue to support EBR Systems in bringing this important device to market.”

John McCutcheon stated, “I am delighted to join the EBR Systems team to commercialize the WISE CRT system and help improve patient outcomes. I will lead the subsequent research steps for this system and submit the marketing application to regulatory authorities as soon as possible.”

Brandon Capital Partners, established in 2006 and headquartered in Melbourne, Australia, is a venture capital and financial services firm. The company primarily focuses on the life sciences sector.

MH Carnegie & Co. is a venture capital and private equity firm founded in 2010 and headquartered in Paddington, Australia. The company primarily invests in innovative technology and the real estate sector.

Split Rock Partners, established in 2004 and headquartered in Minnesota, USA, is a venture capital firm. The company primarily provides financial support to emerging healthcare, software, and internet service enterprises, with assets under management exceeding $1 billion.

Ascension Ventures, founded in 2001 and headquartered in Missouri, USA, is a venture capital and financial services firm. The company primarily focuses on the healthcare sector.

Emergent Medical Partners, headquartered in California, USA, is a venture capital and financial services firm. The company focuses on the life sciences sector, primarily investing in medical device and healthcare companies.

(Compiled by Xu Xiaoxue)