VDYNE has announced today that it has secured a US$21 million Series C financing, proceeds of which will fund first-in-human studies of its tricuspid valve replacement device and delivery system. The financing round was supported by existing investors, including Jean Boulle Medtech, together with significant participation from a large, global medical device company.
VDYNE’s technology addresses tricuspid valve regurgitation, a condition whereby the heart can become enlarged due to impaired functionality of the tricuspid valve. The company’s novel valve replacement and minimally invasive delivery system enables the treatment of a broad range of tricuspid anatomies. VDYNE’s unique system delivers a prosthetic valve via a transfemoral catheter, and is completely repositionable and retrievable, the company said in a press release.
VDYNE is nearing completion of requisite pre-clinical studies and the proceeds from the financing will support the company’s first-in-human feasibility studies which are expected to commence in the first half 2021.
“The financing is a significant milestone for VDYNE and we warmly welcome a large, global medical device company to our investor base. We are moving very quickly in our pre-clinical efforts and are looking forward to the commencement of human feasibility studies in the new year” commented Jean Raymond Boulle II, director of both VDYNE and Jean Boulle MedTech.