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news.Cardiola, a developer of cardiac support systems, has raised $2.02 million from existing investors. The cash infusion represents the first tranche of an ongoing $7.02 million series E financing round.
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The proceeds are being used to commercialize in Europe the company’s patented m.pulse device designed to treat chronic heart failure (CHF), non-surgically, in a patient’s home.
Cardiola’s m.pulse device, based on Muscular CounterPulsation technology, is approved in Europe for treating CHF as a nonsurgical, at-home therapy. In addition to helping patients, m.pulse with Muscular CounterPulsation offers cardiologists an additional source of revenue, the company said.