V-Wave Ltd., a Caesarea, Israel-based medical device, closed a Series C financing of $70m.
The round was led by Deerfield Management with participation from new investors healthcare funds Endeavour Vision, Quark Venture and Aperture Venture Partners and existing investors including strategic investors Johnson & Johnson Innovation (JJDC Inc.) and Edwards Lifesciences, along with BRM Group, Pontifax, Pura Vida Investments, TriVentures, BioStar Ventures, and Israel Secondary Fund.
The company intends to use the funds to continue to expand its development efforts.
Led by Dr. Neal Eigler, Chief Executive Officer, V-Wave is a privately held medical device company that has developed a proprietary, minimally invasive implanted interatrial shunt device for treating patients with severe symptomatic heart failure (HF).
Having received approval from the FDA to initiate a pivotal IDE study, V-Wave also announced the upcoming launch of its global, randomized, controlled, double-blinded multicenter clinical trial – the RELIEVE-HF study – evaluating the safety and effectiveness of its novel device therapy in HF patients with Class III or ambulatory Class IV symptoms with preserved or reduced ejection fraction already receiving optimal therapies.