Nyra Medical has announced the closing of a US$20 million Series A financing.
The round was co-led by Vensana Capital and a large, global medical device company, alongside additional investors Broadview Ventures, Epidarex Capital, and the Georgia Research Alliance Venture Fund. Proceeds from the financing will be used to support Nyra’s technology through early feasibility clinical studies.
Nyra is developing a transcatheter technology (Carlen), which modifies the native mitral valve leaflets with a proprietary implant, to correct for deficiencies that otherwise lead to mitral regurgitation, while preserving the physiological valve geometry.
“We know today that proper correction of mitral regurgitation in patients surviving with heart failure can reduce mortality and hospitalisation rates, with earlier intervention yielding the best results,” says Murali Padala, the inventor of Carlen, director of the Carlyle Fraser Cardiothoracic Research Laboratories at Emory University (Atlanta, USA), and founder of Nyra Medical.
“Carlen fills a much-needed gap in safely and effectively correcting mitral regurgitation across different valve anatomies, and offers the benefit of preserving the full range of other transcatheter and surgical treatments as future options. We methodically developed this technology with funding from the Georgia Research Alliance, Coulter Foundation, National Institutes of Health, and the Carlyle Fraser Heart Center at Emory Midtown Hospital, and upon derisking, spun it off into Nyra Medical. We are enthusiastic to partner with this experienced syndicate of investors to build on Nyra’s strong momentum in product development and to advance Carlen to benefit patients in need.”
In conjunction with this new round of financing, Nyra has added Lisa Wipperman Heine to its board of directors as an independent director.