Feature | August 25, 2011

Occlutech Announces Closing of 15 Million Euro Financing

August 25, 2011 – Transcatheter structural heart occluder maker Occlutech said this week it closed a 15 million Euro investment in the company to accelerate its device development and bring it to market. The European company develops medical implants to treat structural heart disease such as atrial septal defects and patent foramen ovale (ASD and PFO) and left atrial appendage (LAA) occluders.

The funding follows a May 2011 German Supreme Court (BGH) decision to throw out a patent case against Occlutech filed by competitor AGA/St. Jude. AGA also filed claims in several other European countries, all of which have so far been favorable for Occlutech. The company said it intends to initiate litigation for substantial damages against AGA/St. Jude.

In 2011 and 2012, Occlutech expects to launch additional occluders for indications such as patent ductus artery (PDA) and ventricular septal defect (VSD) in addition to second-generation ASD and PFO occluders. Also, an innovative left atrial appendage (LAA) occluder and a new generation of stent grafts and cardiac valve intervention technologies are being developed.

The new funding came from an investment lead by Hong Kong-based Interlink Investments Ltd. and subscribed by investors as well as Occlutech distribution partners from Japan, Switzerland, Ireland, Austria and Turkey.

“This investment will allow us to accelerate our R&D and bring new, relevant products to the market in the near future,” said Tor Peters, Occlutech CEO. “In addition we expect substantial payments by AGA-St.  Jude as a result of litigation initiated by AGA in 2006 and culminating in a win for Occlutech in the German Supreme Court in 2011. The additional funding will allow us to aggressively respond to any new, similar litigation initiated in an attempt to divert our attention and resources from creating relevant products that support our customers in their quest to improve and save patient lives."

For more information: www.occlutech.com

Related Content

PFO closure, patent foramen ovale, AAN recommendation, American Academy of Neurology, stroke patients
News | Structural Heart Occluders| August 08, 2016
Updated recommendations from the American Academy of Neurology (AAN) states that catheter-based closure should not be...
Absorb, bioresorbable stent, FDA approval, FDA approves, FDA clears, most popular content, most popular stories, DAIC

The FDA clearance of the first bioresorbable stent, the Abbott Absorb, the first week of July has been the most popular story so far for all of 2016. It is the first fully dissolving stent approved for the U.S. market and many experts say this technology could be a paradigm shift in coronary and peripheral therapies in the coming years as the technology improves. 

Feature | August 05, 2016 | Dave Fornell
 
Watchman, left atrial appendage closure, LAA occluder

An illustration of a Watchman transcatheter LAA occluder being implanted.

Feature | Left Atrial Appendage (LAA) Occluders| August 01, 2016 | Dave Fornell
Patients with atrial fibrillation (AF or Afib) are high risk for stroke due to the formation of thrombus emboli in th
AtriCure, FROST cryoanalgesia study, William Beaumont Hospital Michigan, cryoICE system
News | Left Atrial Appendage (LAA) Occluders| July 07, 2016
AtriCure Inc. announced the first patient has been enrolled in the FROST study at William Beaumont Hospital, Dearborn,...
AtriCure, AtriClip PRO2 LAA Exclusion System, CE Mark, left atrial appendage occlusion
News | Left Atrial Appendage (LAA) Occluders| July 05, 2016
AtriCure Inc. announced that it has received CE Mark for the AtriClip PRO2 Left Atrial Appendage (LAA) Exclusion System...
Sponsored Content | Videos | Structural Heart Occluders| June 16, 2016
This is an animation of how a Gore Cardioform Septal Occluder is implanted for the transcatheter closure of ASDs or P
PFO occluder, amplatzer
Feature | Structural Heart Occluders| May 27, 2016 | Dave Fornell
May 27, 2016 — A U.S.
Watchman, left atrial appendage closure, LAA occluder, LAA. LAAO, laa occluder, left atrial appendage, Watchman

The Boston Scientific Watchman device is currently the only transcatheter LAA occluder cleared for use in the United States.

Feature | Left Atrial Appendage (LAA) Occluders| May 20, 2016 | Dave Fornell
Atrial fibrillation (AF) affects nearly 6 million Americans and the condition puts them at significantly greater risk
St. Jude Medical, EuroPCR 2016 studies, FFR, LAAO, left atrial appendage occlusion, fractional flow reserve, Amplatzer
News | Cath Lab| May 19, 2016
St. Jude Medical Inc. announced results from two cardiovascular clinical trials presented at EuroPCR 2016.
AtriCure, AtriClip PRO2 LAA Exclusion System, left atrial appendage, FDA clearance
Technology | Left Atrial Appendage (LAA) Occluders| April 29, 2016
April 29, 2016 — AtriCure Inc. announced U.S.
Overlay Init