CircuLite brings in $32.5mm so far with Series C round

Deal summary reprinted from Strategic Transactions - December, 2009

CircuLite (heart assist device) has raised $10.5mm of a proposed $33mm Series C venture round. The company has secured $23.5mm in commitments from insiders and new investors. Forbion Capital Partners led the financing and was joined by current backers Credit Agricole Private Equity, Foundation Medical Partners, and Oxford Bioscience Partners. Read more...

CircuLite brings in $32.5mm so far with Series C round

Deal summary reprinted from Strategic Transactions - December, 2009

CircuLite, which was formed in 2004, will use the proceeds to finish the registration for a European trial of its Synergy pocket micro-pump. The company plans to launch the device in Europe after gaining the CE Mark, which is scheduled for later this year (a US launch is expected in 2010). Synergy is a less invasive system that provides partial circulatory support in heart failure patients; it is implanted before the condition becomes irreversible. Synergy is the size of a AA battery and provides up to 3L/min of blood flow, which enables the heart to rest. The company's 2007 Series B round brought in $25mm.

UPDATE 01/2010:

CircuLite has raised another $22mm, for a total of $32.5mm so far. Forbion Capital Partners led this tranche (and contributes a board member) and was joined by other current shareholders Credit Agricole Private Equity, Foundation Medical Partners, Oxford Bioscience Partners, and some individual investors. The company may bring in up to $40mm by the end of this year.

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