CorAssist Cardiovascular Ltd. has begun human trials of its ImCardia implant device for diastolic heart failure (DHF). The device was also found to be safe in a preliminary study in two people after three months follow up. The company now intends to implant the device in 13 patients by mid-2009, after successfully completing animal trials.
The first implants of a device in humans is a critical phase in medical devices, especially for potentially risky devices as is the case with CorAssist's ImCardia device, which affects heart function. After a successful implant, it is much easier to recruit additional patients and attract the attention of large medical device companies.
ImCardia is designed to treat DHF, a condition in which the heart becomes stiff and/or fails to relax, and fills inadequately. There are no current treatments for this condition. ImCardia is a spring-like device that harnesses elastic energy produced by the left ventricle during systole (contraction) and releases the energy during diastole (relaxation). The released energy assists the left ventricle to overcome its stiffness by springing back an appropriate amount to improve.
CorAssist is currently seeking to raise $15 million in a new financing round to fund DHF treatment products. The company was established at Naiot Venture Accelerator, and has raised $5.5 million to date from Israeli funds Ofer Hi Tech Ltd., Evergreen Venture Partners, Israel Healthcare Ventures Ltd. (IHCV), and Yozma Venture Capital, as well as Argonaut Ventures LLC of the US.
Published by Globes [online], Israel business news - www.globes-online.com - on September 22, 2008
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