TRiCares has secured up to €20 million in non-dilutive financing from the European Investment Bank (EIB), in support of its research, development and innovation activities, including advancing clinical studies of Topaz, its transfemoral tricuspid valve replacement (TTVR) system.
The ongoing European pivotal study of the Topaz system is taking place in sites across Belgium, Denmark, France, Germany and Spain, with Switzerland to follow. A total of 80 patients will be enrolled. The TRICURE US early feasibility study is also making solid progress. To date, implantations have taken place at major structural heart institutions across the USA, with a total of 15 patients to be enrolled across eight sites.
Ahmed Elmouelhi, President & CEO of TRiCares, said: “We are pleased to have secured this loan agreement with the EIB, which is a clear validation of our approach and will be a valuable resource to support our clinical trials in the USA and Europe. We believe that Topaz has the potential to transform outcomes for tricuspid patients, and we look forward to providing further updates from our ongoing studies and plans to begin our IDE [investigational device exemption] pivotal trial.”
