Novostia has announced a leadership transition alongside the successful completion of a CHF 5.6 million fund raise to further accelerate the company’s development efforts and advance its clinical evidence base.
The company is developing the Triflo artificial heart valve, a mechanical, three-leaflet valve prosthesis which is currently undergoing human clinical trials. The device is intended to minimise the risks associated with prolonged anticoagulation, as well as addressing patient concerns including noise-induced discomfort and enhancing quality of life.
Recent changes at the company include the appointment of Soad El Ghazouani as the chief executive officer, effective immediately, succeeding Alain Barbal who will join the board of directors.
With over 25 years of global experience, more specifically in the development and marketing of breakthrough innovations in the cardiovascular field, Soad brings an extensive experience and a proven ability in leading innovative companies through rapid development and growth phases, Novostia says in a press release.
She recently co-founded and served as CEO of T-Heart. Prior to this, Soad held several executive and senior management positions in various medtech companies ranging from start-ups to multinational corporations. Soad holds an MBA in international business and a biomedical engineering degree.
“I am honoured to join Novostia at such a pivotal time for our company. The company’s groundbreaking Triflo Heart Valve has already demonstrated immense potential to transform patient care, and I am eager to guide our talented team as we continue to push the boundaries of innovation and deliver exceptional values to patients, employees and shareholders.”
Novostia also announced that it has successfully raised additional CHF 5.6 million in 2024. The funds will be instrumental in accelerating the company’s ongoing development efforts, advancing clinical studies, and preparing for the next financial round, the company said.
Early results of the PILATUS clinical trial, assessing the Triflo valve will be presented at the European Association for Cardio-Thoracic Surgery (EACTS) annual meeting (9–12, October, Lisbon, Portugal).
“We are immensely grateful to our investors and partners for their unwavering support,” said Alexander Valkenberg, chairman of the board of directors. “The successful fundraising and the arrival of Soad come at a pivotal moment for Novostia, we remain committed to our mission of improving patient outcomes and are confident that these developments will drive us closer to that goal.”
