April 9, 2009
Existing investors Invest $2.02 Million in Cardiola
Based in Winterhur, Switzerland, Cardiola AG has announced that it had received a $2.02 million in funding from existing venture capital investors.†† Cardiola AG is a company that produces solutions for a medical problem known as CHF or Chronic Heart Failure.† It is estimated that worldwide around 17 million people suffer from this condition.† CHF in almost all cases effects people 65 years old or older and often requires hospitalization.† Cardiolaís new product, m.pulse, is the only product that can help CHF sufferers get the therapy they need at home.†† This revolutionary technology works by manifesting MCP or muscular counter pulsation therapy.† Compared to other treatments for CHF, such as drugs, implantable defibrillators, and heart transplants, m.pulse is designed to treat CFH when it occurs in the patientís home.†† The device is roughly about the size of a c ell phone and is battery powered and the patient attaches it to his belt for 45 minutes per treatment and it synchronizes to the patientís heart beat to stimulate the muscles of his calves and thighs to make them contract counter to the patientís heart rhythm.†† This type of counter pulsation results in higher blood flow to the heart muscle and mitigating the heartís workload.
Cardiolaís m.pulse technology is already approved in Europe and the proceeds of this round of financing will go to commercialize m.pulse throughout Europe to treat CHF patients.† This particular funding is actually the first installment of a $7.02 million series E funding.†† According to Christof Lenz, CEO of Cardiola and the former Global Innovation Manager at Siemens, the people at Cardiola have created a winning situation for both physicians and patients with the m.pulse MCP device.†† CHF is a very difficult illness to treat and the side effects of the drugs used to treat CHF are strong enough to deter patients from keeping up the dosage regime of these drugs and more invasive procedures, such as surgery may yield better results but are also highly risky and costly.† Further more, m.pulse offers CHF patients a more affordable and non-surgical treatment that the patient can do himself at his home.
According to Dr. Larry W. Lapanashvili, Heart surgeon at the Marji Medical Center in Tbilisi, Georgia; the m.pulse has been a great device to treat patients with CHF with both the NYHA classes II and III.†† This device will also be used to treat CHF patients in the United States and Japan in the near future.