Forbion's CircuLite raises $30m

The oversubscribed all-equity funding round was led by MacAndres & Forbes Holding, a new investor in the company, and existing investor Forbion.

Forbion founded the company in 2004. Prior to the series-D funding, Forbion led the $32.5m series-C funding in the medical equipment business in February 2010. If required the firm is prepared to continue to support CircuLite.

The new capital will provide financial support for the commercialisation of CircuLite's Synergy product, which is expected to receive CE Mark approval in 2012. It will also carry the company through the clinical development of an IDE (investigational device exemption) pilot for a first-in-human study in Europe.

Company
CircuLite is a German medical equipment company that works with technology spun-out from the Helmholtz Institute in Aachen Germany. It's main product, Synergy, is a circulatory support system for patients with class IIIb and class IV heart failure. 

People
Dr. Rose led the investment on behalf of MacAndrews & Forbes. Dr. Avi Molcho and Martien van Osch, who have previously joined the board of directors of CircuLite, led the deal on behalf of Forbion.

Advisers
Equity – Goodwin Proctor, Mike Bison (Legal); Lazard (Placement agent).
Company – SNR Denton US, John Cleary (Legal). 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Healthcare
• Expansion
• DACH
• Germany