Heart failure tech developer Endotronix is being acquired by Edwards Lifesciences a month after receiving regulatory approval for its implantable pulmonary artery sensor.
Irvine, Calif.-based Edwards said in a press release it was exercising its option to acquire Naperville-based Endotronix following its initial investment in Endotronix’s 2016 Series C financing round.
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John Conrad, president and CEO of Illinois biotech association iBio, said the news was significant for Illinois.
“Endotronix’s acquisition by Edwards Lifesciences is a remarkable success story for Illinois’ life sciences ecosystem,” Conrad wrote in an iBio statement.
“This acquisition not only validates the innovative spirit and technical expertise fostered in Illinois but also signals to the global health care community that our state is a fertile ground for groundbreaking medical technologies,” Conrad wrote. “Endotronix’s journey showcases the potential for future growth in our biotech and medtech sectors, attracting more investment, talent, and opportunities to Illinois.”
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