Restore Medical, a Medtech company that focuses on heart -failing therapies, announced the closure of a series B finance round of $ 23 million.
Pitango HealthTech led De Ronde together with the European Innovation Council (EIC) Fund, with the participation of existing investors, including Peregrine Ventures.
What it does
Recovery medical treatments Heart failure with trans cathet therapies that are designed to restore the hemodynamic balance and improve clinical results.
The company’s flagship product, smuggling, is a reversible therapy for the treatment of failure of left ventricular (LV). The implant supplied by Katheter is intended to use the right ventricle to provide support to the LV, which improves the LV ejective fraction and the ventricular geometry is restored.
The company will use the funds to complete a European feasibility study for smuggling and to initiate a clinical study established in the US.
“We are proud to have the support of such a strong and diverse group of partners, including two global strategic investors, the European Innovation Council Fund and leading VCs such as Peregrine Ventures and Pitango HealthTech,” said Gilad Marom, CEO of Restore Medical, in a statement.
“Their trust in our vision, team and technology is a powerful approval. With the encouraging of clinical data and breakthrough of the FDA, we are well positioned to promote this technology to make a meaningful impact for patients worldwide.”
Market Snapshot
Recovery Medical Received breakthrough equipment indication Of the FDA last year because of its smuggling war.
This designation was specifically for the treatment of heart failure in patients with reduced ejective fraction who remain symptomatic despite maximum tolerated guideline -oriented medical therapy and who have no significant lung hypertension or straight heart failure.
In 2023, the medical registration in his clinical study recovered with his Smuggling.
The feasibility, Multi-Center, prospective study registered 15 patients who already had a maximum tolerated guideline-oriented medical therapy in five hospitals in Europe.
In 2022, Restore Medical received a subsidy of $ 2.9 million (€ 2.5 million) and subjected to a future milestone, a stock investment of $ 11.6 million (€ 10 million).
The funds were used to restore the medical restore to improve the clinical development of smuggling and further investigating the safety and efficacy of treatment.
Other companies in the transcatheter space include Clear Vascular, who announced the successful closure of his series B in March.
The financing was used to speed up the development of the advanced IVUS technology of the company, designed to improve vascular imaging and patient results and to support 510 (K) FDA clearance prior to the launch of the American market.
The California-based company developed AI-enabled Transcatheter Intravascular Ultrasound technology that records images in the blood vessels of a patient to evaluate vascular diseases and improve image interpretation.
Vascularly launched in 2023 after receiving a Serie A financing round of $ 35 million.
In 2023, Add medically, developer of a non-invasive implant for transkatheter left behind the exclusion of the atrial appendix, raised $ 4.35 million as part of an extensive Serie A-Finance Round.
The company develops the Appligator, a device that is designed to reduce a stroke risk in AF patients by excluding the LAA to prevent blood clot leakage with a minimally invasive transseptal intervention, leaving no metal implant.
In 2021, Medical completed one $ 7.4 million (€ 6.2 million) Serie A finance round.
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