V Wave Ltd., which has developed an implant for the treatment of congestive heart failure, has raised $2 million. Pontifax fund led the financing round, and was joined by current investors, including BRM Capital, which has already invested $4.5 million in the company, in one of its few investments in the life sciences.
V Wave, founded in 2010, has developed a miniature valve which is implanted by catheterization into the left ventricle, to reduce the pressure on the muscle be controlling the blood flow between the heart chambers in patients who are frequently hospitalized with heart attacks. The valve is intended to reduce hospitalizations and improve patients' quality of life.
V Wave will use the proceeds to finance the first human clinical trial of the product to test its effectiveness.
Current treatment for congestive heart failure is mainly based on the management of body fluids; i.e. the use of various drugs to clear surplus fluid and medication to expand blood vessels. In severe cases, pacemakers are implanted. Two Israeli companies are developing such products: BioControl Medical Ltd. and EnoPace Biomedical Ltd.
V Wave recently completed animal studies on the product and hopes to begin human trials this year.
Published by Globes [online], Israel business news - www.globes-online.com - on July 3, 2013
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