LVAD dev CorWave raises $17.1m in Series B

Circulatory support device developer CorWave said today it raised $17.1 million in a Series B round of financing to support its novel left ventricular assist device. The round was led by new investor Novo Seeds, joined by existing shareholders Sofinnova Partners, Bpifrance and Seventure and joined by new investor Ysios Capital. CorWave said it has developed a left ventricular assist device which uses “disruptive pumping technology” that mimics natural heart flow patterns that it claims can overcome the “limitations of rotary pump LVADs.” “Since day one we saw an unparalleled match between this unique technology invented in France and the unmet needs in the heart failure space. Medtech expertise, engineering and funding was required to bridge the gap,” chair Gérard Hascoët said in a prepared statement. “Our R&D team led by Carl Botterbusch, an LVAD veteran, has done a fantastic job at de-risking CorWave’s technology. Clinicians and scientists in the field as well as our engineers are gathering increasing evidence indicating that our technology has the potential to improve dramatically the clinical outcomes of LVADs. With this funding in place, we now have the resources to prepare our pump for the first-in-man study and bring this paradigm-shifting technology into the hands of clinicians,” CEO Louis de Lillers said in a press release. As part of the funding round, Novo Seeds’ Emmanuelle Cotanceau and Ysios’ Jos...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News Cardiac Assist Devices Cardiac Implants Cardiovascular CorWave Source Type: news