V-Wave Ltd., a Caesarea, Israel-based medical device company that is developing a proprietary implantable, interatrial shunt for the treatment of heart failure (HF), completed a Series B financing of $28m.
Backers included new investors Johnson & Johnson Innovation – JJDC Inc., TriVentures, Pura Vida Investments and BioStar Ventures and existing investors BRM Group, Pontifax and Edwards Lifesciences.
The company intends to use the funds for the clinical evaluation and development, addition of senior management and manufacturing scale-up of proprietary minimally invasive device for use in patients with chronic symptomatic HF.
Led by Dr. Neal Eigler, MD, CEO, V-Wave provides a shunt for the treatment of heart failure (HF), which is implanted trans-venously and placed in the atrial septum where it remains. The device regulates left atrial pressure (LAP) by shunting excess blood volume away from the left ventricle – the heart’s main pumping chamber.