Ancora Heart, Inc., a Santa Clara, California-based developer of treatments for heart failure, raised $17.8m in a funding round expected to reach $30m.
The round was led by Savitr Capital and other existing investors.
Led by Jeff Closs, president and CEO, Ancora Heart is advancing AccuCinch® Ventricular Repair System, a minimally invasive investigational treatment for heart failure and functional mitral regurgitation (FMR). The AccuCinch procedure is intended to directly repair the enlarged left ventricle, targeting the underlying cause of heart failure. The system is designed to reduce the size of the left ventricle, improve left ventricular function, and reduce symptoms of heart failure.
The financing will be used to support clinical trials evaluating safety and efficacy of the AccuCinch, as well as ongoing product development efforts.