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

University of Alabama at Birmingham, Amplatzer PFO Occluder, first implementation
News | Structural Heart Occluders| February 15, 2017
Doctors at the University of Alabama at Birmingham have implemented the first U.S. Food and Drug Administration (FDA)-...
Amplatzer PFO Occluder, St. Jude Medical, Baylor Heart and Vascular Services, Fort Worth, Texas, first patients
News | Structural Heart Occluders| February 01, 2017
Baylor Heart and Vascular Services at Fort Worth in November became the first program in Texas to implant the Amplatzer...
NCDR, ACC, JACC, American College of Cardiology, national trends, heart disease treatments, trends in cardiovascular care
News | Cath Lab| January 23, 2017
January 23, 2017 — Over 93 percent of heart attack patients are receiving stents within the guideline-recommended thr
RESPECT trial, Amplatzer PFO Occluder, St. Jude Medical, TCT 2016
News | Structural Heart Occluders| November 02, 2016
St. Jude Medical Inc. announced the long-term data from RESPECT, a landmark trial, during a First Report session at the...
St. Jude Medical, Amplatzer PFO Occluder, FDA approval, U.S. launch
Technology | Structural Heart Occluders| November 02, 2016
St. Jude Medical Inc. announced this week the U.S. Food and Drug Administration (FDA) approval and launch of the...
UAB, University of Alabama at Birmingham study, stroke prevention, non-valvular atrial fibrillation, NVAF
News | Atrial Fibrillation| October 25, 2016
A recent study from University of Alabama at Birmingham (UAB) researchers published in PLOS ONE compares different...
St. Jude Medical, ADO II AS trial, congenital heart disease, PDA, Amplatzer Duct Occluder II AS
News | Congenital Heart| October 19, 2016
St. Jude Medical Inc. announced the launch of the ADO II AS (AMPLATZER Duct Occluder II Additional Sizes) pediatric...
Overlay Init