Laplace Interventional has completed its series C financing, which will be used to further the clinical study of its Laplace transcatheter tricuspid valve replacement (TTVR) system.
The financing round was led by a non-disclosed global strategic investor along with investments from Aphelion Capital, Engage Venture Partners, Unorthodox Ventures, JWC Venture and Features Capital. The company also announced the addition of Ned Scheetz, founding managing partner at Aphelion Capital to its board of directors.
Laplace Interventional’s device aims to offer an improvement to the quality of life to patients worldwide diagnosed with tricuspid regurgitation (TR). Laplace Interventional is developing a prosthetic valve that is delivered through a minimally invasive procedure not requiring an open-heart surgery and thereby reducing future complications in patients.
“So far we have treated three patients in the Laplace EFS [early feasibility study] and all were discharged home within one to two days and are doing well. This was our first experience with a dedicated transcatheter tricuspid valve replacement platform and we are highly impressed with the intuitive deployment, imaging requirements, and overall ease of use of the Laplace system in a variety of challenging anatomies,” said Brandon Jones (St Vincent Medical Center, Portland, USA).
Laplace has enrolled 22 patients in the USA largely as part of their US EFS Study (and 25 globally) with encouraging results, the company says in a press release.
“This round of financing marks a significant milestone for the company and further validates our progress over the past few years,” said Ramji Iyer, founder and CEO of Laplace Interventional. “We are grateful to our patients, physicians as well as new and existing investors for their continued support and look forward to working towards starting a pivotal trial.”
Laplace Interventional plans to use the funds raised from this round towards completing their feasibility study (US EFS and OUS) and work towards a pivotal study.
“Aphelion Cardeation, a venture fund formed to invest in innovative health care products, services and technologies that align with the mission of the American Heart Association, is proud to participate in this round of financing,” said Ned Scheetz with Aphelion Capital. “We are inspired by Laplace’s innovative solution for TR and its potential to transform care for millions of patients worldwide.”
