CorFlow Completes $9.7M Seed Funding

CorFlowCorFlow Therapeutics AG, a Baar, Switzerland-based company developing proprietary technologies for diagnosis and treatment of microvascular obstructions (MVO), completed the 2nd close of its Seed+ financing round.

To date, since foundation in 2016, the company has raised a total of USD$9.7M (CHF9.4M) in seed funding.
The seed rounds have been funded by experienced private medical device investors who over the last decades have supported several innovative interventional cardiology technologies. The milestones to be reached over the coming months will be the basis for raising the A round in 2019 securing the long-term R&D, clinical and regulatory activities of the company.

Led by Jon H. Hoem, CEO and Co-Founder, CorFlow has developed technology that enables detection and treatment of MVO while the heart attack patients are still in the catheter laboratory (cathlab) immediately following reopening of the larger epicardial arteries with a stent.

The seed proceeds will finance the First-in-Man MOCA I (MVO with CoFITM System Assessment) clinical trial in Europe.
The MOCA I trial is a safety and feasibility study of the newly developed CorFlow Controlled Flow Infusion (CoFITM) system which will be studied in 40 acute heart attack patients.
Clinical trial filings for the MOCA I trial are currently underway in six leading cardiovascular centres in Switzerland, the UK, Belgium and Germany.
In addition to the safety & feasibility aspects of the CorFlow technology, the MOCA I trial will measure the degree of Microvascular Obstruction (MVO) using CorFlow’s proprietary dynamic Microvascular Resistance (dMVRTM) concept and compare these peri-procedural dMVR values to post-procedure contrast enhanced Magnetic Resonance Imaging (MRI).
Furthermore, the MOCA I study will investigate the treatment effect of the CoFITM low flow infusion of already approved therapeutic agents to reduce MVO in acute heart attack patients.

FinSMEs

12/09/2018

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