CroíValve, a Dublin, Ireland-based high potential startup developing a treatment for tricuspid regurgitation (TR), raised €4m in funding.
The financing included:
– €2.5m from the European Union under their Horizon 2020 SME Instrument grant, and
– €1.5m from Broadview Ventures and current investors (HBAN MedTech and Irrus Syndicates, Atlantic Bridge University Fund and SOS Ventures).
The company intends to use the funds to accelerate the development of its novel technology into First in Human studies.
Founded by Dr Lucy O’Keeffe, Dr Martin Quinn, Dr Paul Heneghan and Prof Bruce Murphy, CroíValve develops a percutaneous solution for tricuspid regurgitation. Its technology – a Tricuspid Coaptation Valve – is delivered using a minimally invasive approach and seals the gap between native valve leaflets, thereby restoring valve function.
A spin-out from Trinity College Dublin, the company is located in the Liffey Trust Enterprise Centre in the same city.