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

Videos | 3-D Printing| November 17, 2017
Dee Dee Wang, M.D., Director, Structural Heart Imaging at Henry Ford Hospital, Detroit, explains how her center uses
Videos | Left Atrial Appendage (LAA) Occluders| November 14, 2017
Vivek Reddy, M.D., director of cardiac arrhythmia services and professor of medicine, cardiology, Mount Sinai Hospita
Videos | Structural Heart Occluders| November 08, 2017
John Rhodes, M.D., co-director of the adult congenital heart program, Medical University of South Carolina, is the pr
The Watchman LAA occluder PREVAIL Trial 5-year results were presented at the 2017 TCT meeting.
Feature | Atrial Fibrillation| November 02, 2017
November 2, 2017 – Five-year results from the PREVAIL Trial comparing left atrial appendage closure (LAAC) with the B
Videos | Structural Heart Occluders| September 13, 2017
Ziyad Hijazi, M.D., MPH, MSCAI, FACC, director of the cardiac program and chair of the Department of Pediatrics at Si
LAA closure during open heart surgery in the LAACS Study showed better outcomes for all patients.

LAA closure during open heart surgery in the LAACS Study showed better outcomes for all patients.

Feature | Left Atrial Appendage (LAA) Occluders| September 07, 2017
September 7, 2017 — Closure of the left atrial appendage (LAA) during heart surgery protects the brain, according to
Abbott Initiates U.S. Pivotal Study of Amplatzer Device for Patent Ductus Arteriosus
News | Congenital Heart| September 05, 2017
Abbott announced it has initiated a U.S. pivotal clinical study evaluating the safety and effectiveness of a modified...
Data was positive from the Watchman Left Atrial Appendage Closure (LAAC) Device from the EWOLUTION registry
News | Atrial Fibrillation| May 30, 2017
May 30, 2017 — Data was positive for safety and efficacy rates of the Watchman Left Atrial Appendage Closure (LAAC) D
AtriCure's AtriClip System Surpasses 100,000 Units Sold Worldwide
News | Left Atrial Appendage (LAA) Occluders| April 25, 2017
AtriCure Inc. announced it has sold more than 100,000 AtriClip Left Atrial Appendage Exclusion System devices worldwide...
atricure atriclip, LAA occlusion, acc17

The AtriCure Atriclip surgical LAA occlusion device. It loops over the LAA on the outside of the heart and clips it off from the rest of the heart to prevent the formation of clots.

Feature | Left Atrial Appendage (LAA) Occluders| March 29, 2017
March 29, 2017 — For patients with...
Overlay Init