Corvia Medical has announced the successful closure of a US$55 million funding round with funds to be used to complete the ongoing RESPONDER-HF, double-blinded, randomised, sham-controlled, confirmatory trial of the Corvia atrial shunt.
The study, which is currently underway at more than 65 institutions on three continents, is expected to generate the final supportive clinical data required for US Food and Drug Administration (FDA) approval of the shunt as a breakthrough treatment for heart failure with preserved and mildly reduced ejection fraction (HFpEF/HFmrEF), the company says in a press release.
“We are profoundly grateful for the unwavering support of our longstanding investors as we advance toward FDA submission of the Corvia atrial shunt,” said George Fazio, chief executive officer of Corvia Medical. “Their commitment furthers our mission to bring this transformative heart failure treatment to millions of patients worldwide.”
Paul LaViolette, board chair of Corvia Medical, added: “We firmly believe Corvia has the potential to fundamentally alter the landscape of heart failure treatment, and our investors share that vision. With these resources, we are well-equipped to drive the company through the approval process and introduce this groundbreaking therapy to the market.”
Funding came from the company’s existing investment syndicate of Third Rock Ventures, General Catalyst Partners, AccelMed, Lumira Ventures, and two strategic investors.
