WhiteSwell, which is developing a minimally invasive catheter-based approach to treat acute decompensated heart failure, today announced the closing of a $30 million series B financing round led by RA Capital Management and an InCube Ventures syndicate, with participation from other investors.
Funds from the round will be used to support product development and a pivotal study of the company’s innovative technology for the treatment of acute decompensated heart failure (ADHF). WhiteSwell's catheter is designed to more efficiently remove excess interstitial fluid in patients with ADHF by enhancing the natural fluid removal process of the lymphatic system
Founded in 2014 by CTO Yaacov Nitzan, he has now been joined by CEO Eamon Brady and CFO Seán Mac Réamoinn, who formerly served as CEO and CFO of Neuravi, a stroke treatment company acquired by Johnson & Johnson last year. WhiteSwell has offices in Shefayim near Tel Aviv and in the US and Ireland.
Brady said, “WhiteSwell was founded on insights that arose from our team’s research on the complex fluid dynamics of heart failure patients, leading to the company’s innovative leap in treatment strategy. This financing is an important milestone that will enable us to tackle an enormous clinical problem that affects millions of families.”
WhiteSwell is currently conducting an early feasibility study at clinical sites in the US, Israel and Europe.
Published by Globes, Israel business news - en.globes.co.il - on December 11, 2018
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