CAIRDAC raises €17m to finance the development of ALPS the first SELF-SUSTAINABLE LEADLESS PACEMAKER
Founded in 2016, CAIRDAC is developing the first autonomous leadless pacemaker incorporating energy harvesting capabilities that synchronizes with the heart’s rhythm to produce kinetic energy, which powers the device with no energy limitation. It is the first time in the industry that a self-contained implantable medical device is capable of generating its own energy when operated. This “closed-loop” concept has been engineered, prototyped and successfully tested in-vivo.
CAIRDAC was founded through the synergistic partnership of experts in the fields of piezoelectric technology and cardiac rhythm management (CRM) with the objective to overcome the limitations of current leadless pacemakers by providing the device with a sustainable and renewable energy source.
Leadless pacemakers represent a significant opportunity within the approximately US$4 billion global pacemaker market, as they have the potential to improve patient safety, comfort and impact on healthcare expenses. However, current leadless pacemakers have had limited uptake as they are battery-powered leading to short lifespans, functionality limited, and only single-chamber stimulation due to limited energy reserve while most patients need dual- chamber stimulation. The ALPS with its self-sustainable and dual-chamber capabilities, has the potential to reinvent the standard of care addressing the majority of the pacemaker market.
This Series A fundraising will enable the company to move to the next stages of development and clinical studies.
“CAIRDAC is very proud of and delighted with the interest and confidence our new investors have shown in our project. ALPS is a paradigm shift in leadless pacing solutions and is a game- changer for patients and healthcare professionals. Embodied by more than twenty patent families the technology is robust, efficient and well protected” said An Nguyen-Dinh, CEO & Co-Founder.
“From the very beginning Doliam has been convinced by CAIRDAC’s innovation and we continue to strongly support their ambition. Today, alongside our new partners, we are working together towards a solution that will respond to the market’s needs, and give patients comfort with minimally invasive surgery and sustainability”, said Etienne Flesch, Chairman and CEO at DOLIAM.”
“The leadless pacemaker technology developed by CAIRDAC is absolutely unique and has tremendous potential. We are very pleased to join the historical shareholder Doliam to support this excellent company and team.” added Celia Hart, General Partner at Supernova Invest.
“CAIRDAC has a cutting-edge technology with the potential to significantly improve patients’ lives and reduce healthcare costs. Today, we are thrilled to support this great team.” added Yoann Bonnamour, Investment Manager at Merieux Equity Partners.
CAIRDAC is a perfect symbiosis of passion and experience. CAIRDAC’s innovative technology may be considered as the “Charing Cross” point for next generations of leadless pacemaker and even for other medical implants that would benefit from self-sustainable energy source. New products can be designed to last much longer, having more features, and enabling significant cost savings for healthcare systems. CAIRDAC is striving to become the world leader in autonomous leadless pacing systems.
ABOUT THE DOLIAM GROUP
The DOLIAM Group is a French family-owned industrial group that invests in, supports and accompanies start-ups and innovative companies that are developing tomorrow’s solutions using cutting-edge technology. Created more than 30 years ago, it brings together several companies in France and abroad, from start-ups to industrial-scale ones, developing technologies and products with high technological and scientific added value. With more than 440 employees in France and in the United States, the DOLIAM Group is anchored in the heart of the High-Tech industry and recognized as a reference player on the market through its subsidiaries.
ABOUT MÉRIEUX EQUITY PARTNERS
Merieux Equity Partners (“MxEP”) is an AMF-accredited management company dedicated to equity investments in the health and nutrition sector. MxEP actively supports entrepreneurs and companies with differentiated products and services, giving them privileged access to its sector expertise and international network. MxEP currently manages over €1 billion in assets and recently closed its latest Venture Capital fund, OMX Europe Venture Fund, with the co-sponsorship of Korys.
ABOUT SUPERNOVA INVEST
Supernova Invest is a cutting-edge venture capital firm with a leading position in the French deeptech investment market. It manages and advises seven capital funds for more than €400 million. Supernova Invest specializes in breakthrough technologies, developing start-ups in Industry, Health, Energy & Environment and Digital Technology sectors. Supernova Invest has a strong partnership with both the CEA (the French Alternative Energies and Atomic Energy Commission) and Amundi (the European leader in asset management).
The FPCI Supernova 2 is an early-stage investment fund managed by Supernova Invest. Its main investors are the Crédit Agricole, the Fond National d’Amorçage managed by Bpi France, the CEA, Michelin, BioMérieux, Vinci, EDF, CGG, UDIMEC as well as entrepreneurs and family offices.
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ABOUT THE TURENNE GROUPE/SHAM INNOVATION SANTÉ
Created in May 2014, Sham Innovation Santé is an investment structure specializing in health innovation capital and is controlled and owned by Sham, a mutual insurance company specializing in the risk management of health, social and medical players. Sham is the leading French player in medical civil liability. Advised by Turenne Santé (Health Center of Turenne Group), Sham Innovation Santé’s mission is to support the growth and development phases of innovative companies in the health sector.
Turenne Group, one of France’s leading private equity firms, has been helping entrepreneurs for 20 years with their projects for innovation, development, and the transmission of their companies. As an independent player, the group manages €1,4 billion in assets. Its teams of 70 professionals, including 56 investors, based in Paris, Lille, Lyon, Bordeaux, Marseille, Nice and Metz, support 200 business leaders in the sectors of healthcare, hotels, new technologies, distribution and innovative services. With more than €300m, our healthcare team (Turenne Santé) invests across the entire value creation chain for healthcare companies through various investment approaches.