CroíValve raise €4million in funding - liffeytrust.ie

CroíValve raise €4million in funding

Posted in News by Michelle on 13 Sep 2019.

We'd like to wish a huge congratulations to CroíValve on raising €4million in funding for their work in developing a treatment for tricuspid regurgitation (TR).

Tricuspid regurgitation (TR) is a severe heart condition that occurs when the tricuspid valve fails to seal properly, allowing blood to flow retrograde from the right ventricle into the right atrium, with progressive symptoms including fatigue, fluid retention leading to abdominal and leg swelling, liver and kidney failure, and eventually death. This is an issue affecting over half-a-million people every year in the US and EU alone, for which there is currently no suitable solution.

CroíValve’s technology, a tricuspid coaptation valve, uses a minimally-invasive approach to seal the gap between native valve leaflets, thereby restoring valve function. The procedure has been proven to be safe, simple and effective in extensive pre-clinical testing.

The financing includes €2.5 million through the Horizon 2020 SME Instrument grant and €1.5 million from Broadview Ventures and current investors (HBAN MedTech and Irrus Syndicates, Atlantic Bridge University Fund, and SOS Ventures). The funding will accelerate the development of the company’s technology.

Since joining The Liffey Trust Enterprise Centre in January 2019, CroíValve have gone on to raise recording breaking funding for this incredible development.

“Tricuspid regurgitation remains an undertreated condition, despite advances in valve repair and replacement for the left side of the heart,” said Dr. Maria Berkman of Broadview Ventures. “We believe CroíValve has come up with a differentiated approach to solving TR – one that accommodates the unique anatomy and hemodynamics of the tricuspid valve. We look forward to working with the CroíValve team to bring this solution into the clinic.”

To read more on CroíValve's success, visit their website here.