Mansueto, Polsky part of $25 million medical-device investment

Endotronix raised another $25 million to conduct late-stage trials of an implantable device to help doctors better monitor cardiac patients and detect problems before they lead to heart failure.

The Lisle-based company raised $45 million a year ago in preparation for trials in Europe. It’s one of a handful of medical-device startups in Chicago that received significant funding.

If all goes well, Endotronix hopes to have its device in market in Europe either late next year or 2021 and in the U.S. the following year.

The company was founded in 2007 by engineer Harry Rowland and a Peoria heart surgeon. The first device was implanted in a patient a decade later.

The device, implanted in a patient’s artery, measures blood pressure. A wireless reader captures the data and recharges the implant. Endotronix also makes software used by the patient’s doctor to capture, chart and analyze the patient’s data.

The U.S. trial, expected to begin later this year, will involve more than 900 patients across more than 60 hospitals, Rowland said.

A new commercial investor, which the company did not identify, participated in the latest fundraising. Chicago investors include Joe Mansueto, founder of Morningstar, and energy entrepreneur Michael Polsky, said John Flavin, chief financial officer.

Previous investors include Chicago-based Wanxiang Healthcare Investments and OSF Ventures, the venture arm of Peoria-based hospital operator OSF Healthcare. Other investors are LSP, a large life-sciences investor based in Amsterdam; Aperture Venture Partners, BioVentures Investors, Lumira Ventures, Seroba Life Sciences and SV Health Investors.