Israeli cardiovascular device company V-Wave Ltd. announced that it has raised $28 million, bringing the total raised in its Series C financing round to $98 million. The financing was led by Deerfield Management with participation from Aperture Venture Partners, BRM Group, Endeavour Vision, Johnson & Johnson Innovation - JJDC Inc., Pontifax, Pura Vida Investments, GHS Fund (Quark Venture LP), as well as Triventures and Israel Secondary Fund.
V-Wave is developing proprietary, minimally invasive interatrial shunt devices for treating patients with severe symptomatic heart failure (HF) and pulmonary arterial hypertension (PAH). The financing assures capital to complete clinical trials for the Ventura Interatrial Shunt for the treatment of advanced heart failure and to obtain FDA clearance subject to final data and agency review.
The Ventura Interatrial Shunt is currently being evaluated in the international, multicenter RELIEVE-HF randomized trial in patients with both reduced and preserved ejection fraction who are advanced NYHA Class II, Class III and ambulatory Class IV and already receiving optimal medical therapies. The company is also conducting the RELIEVE-PAH trial from patients suffering from PAH.
V-Wave CEO Dr. Neal Eigler said, "The RELIEVE-HF trial is a randomized pivotal controlled clinical trial currently enrolling in the US and 8 other countries. The RELIEVE-HF trial has both a double-blinded randomized cohort and an open label registry. From the latter, we are excited about the early signals related to ease of implantation and procedure safety. With respect to ease of implantation, within the spectrum of structural heart procedures the Ventura Shunt is on the more simple and straightforward side. Feedback on the product from physicians in the registry is very good with respect to ease of use, deployment and reliability."
V-Wave chairman Dr. Frank Litvack added, "With more than 26 million patients suffering HF globally and more than 6 million in the US, there is a huge unmet clinical and economic need for simple, cost effective new therapies. Advanced heart failure has a prognosis worse than many cancers and is one of the leading drivers of hospital expenditures both domestically and abroad."
Published by Globes, Israel business news - en.globes.co.il - on September 23, 2020
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