Supira Medical has announced the successful completion of an oversubscribed series E financing round, raising US$120 million, with funds to be used to expand clinical programmes for the study of the company’s percutaneous ventricular assist device (pVAD) for both high-risk percutaneous coronary intervention (HRPCI) and cardiogenic shock (CS).
The funding round was led by new investors Novo Holdings and Qatar Investment Authority (QIA), along with participation from two undisclosed strategic investors. Existing investors participated as well, including Cormorant Asset Management and The Capital Partnership (TCP), 415 Capital, AMED Ventures, PA MedTech VC fund, and Unorthodox Ventures.
In a statement, the company says that the clinical programme expansion includes the SUPPORT II US pivotal study for HRPCI, which will be used to seek US Food and Drug Administration (FDA) premarket approval (PMA).
“We are grateful for the continued confidence and support from our current investors and delighted to welcome new world-class investors to this financing consortium,” commented Nitin Salunke, president and CEO of Supira Medical. “This significant capital raise underscores the team’s tremendous progress as we look forward to exciting opportunities ahead of us to improve clinical outcomes for both HRPCI and cardiogenic shock patients.”
Additionally, Supira has welcomed Christopher Shen, partner, Novo Holdings US to its board of directors. “We believe there is a massive unmet need for next-generation ventricular support devices to promote myocardial recovery and improve peripheral organ perfusion in HRPCI and CS patients,” stated Shen. “The Supira team has built a strong clinical foundation to further validate their advanced low-profile, high flow technology platform in two important segments of interventional heart failure, and we are pleased with their excellent progress bringing this therapy closer to market.”
The company recently completed enrolment of its US SUPPORT I early feasibility study (EFS), enrolling a total of 15 patients across four clinical sites. The prospective, single-arm clinical study evaluated the safety and feasibility of Supira’s pVAD in patients undergoing HRPCI.
Supira Medical is a privately held portfolio company of Shifamed.
