Israeli Cardiac Medical Devices Company Not innovative Today, it announced the completion of its $28.5 million Series B financing round. The company has developed a device for the transcatheter treatment of tricuspid regurgitation (TR) using a revolutionary transcaval technology.
This latest funding round, led by RA Capital Management, with participation from new investor European Investment Committee (EIC) and existing investors BRM Group, JG Private Equity and Mivtach Shamir Holdings, brings the total amount raised by the company to $41 million.
Innoventric has successfully completed its first-in-human clinical trial in Europe, performed several additional transplants, and has treated more than 40 patients to date. The company recently received US Food and Drug Administration (FDA) approval to conduct an early feasibility study (EFS) in the US, and active patient enrollment continues with the first US patient already treated. The funds raised will be used to advance clinical trials and expand regulatory approvals in the United States and Europe.
The Innoventric device treats tricuspid regurgitation, a serious condition that impairs blood flow in the heart, by replacing the function of the native valve through a heterologous, cross-caval approach. With Innoventric, the prosthetic valve is installed in the vena cava instead of the beating heart, so complete seal is achieved without the risk of leakage or detachment. This method simplifies the implantation process and overcomes the anatomical complexities associated with conventional treatments. Positioned at the forefront of the $10 billion annual transcatheter heart valve replacement market, Innoventric’s technology is poised to transform tricuspid valve treatment.
The Innoventric device offers significant advantages, including broad patient applicability. Designed to accommodate different anatomy, it allows treatment for patients who would normally not be a candidate for tricuspid procedures. Its innovative fixation technology provides secure fixation of the tubular superior vena cava (SVC) and inferior vena cava (IVC) instead of a beating heart, reducing risks such as leakage or detachment. The device also supports a simplified procedure, as it can be quickly implanted without the need for echocardiography or general anesthesia, significantly enhancing success rates and reducing patient recovery time.
“Our mission is to revolutionize tricuspid regurgitation care with minimally invasive treatments that dramatically improve patient outcomes,” said Amir Danino, CEO of Innoventric. “The strong support from our investors, coupled with the progress we have made, underscores the need and potential of our approach.” “The enormous.” To treat TR.”
Anurag Kondapalli, Director, RA Capital Management, added: “We are excited to support Innoventric in their quest to transform the approach to treating TR. The strong results from their European first-in-human trial demonstrate the tremendous potential of their non-anatomical device to treat a wide range of patients who lack Viable Options We are very impressed with Innoventric’s technology and leadership, and believe their solution has the potential to dramatically reshape the future of TR care.
Published by Globes, Israel Business News – en.globes.co.il – on October 29, 2024.
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