Pi-Cardia Ltd., a Rehovot, Israel-based global leader in the development of non-implant catheter-based solutions for treating heart valve calcification, closed a $27m round of financing.
The round was led by Sofinnova Partners, with participation from Professor Jacques Séguin, Chairman of the company, and existing investors.
The company intends to use the funds to demonstrate the therapeutic effect of aortic valve scoring over time, through parallel clinical trials in the United States and Europe.
Led by Erez Golan, CEO and Founder, Pi-Cardia is developing non-implant-based solutions for treating valve calcification. Its lead product, the Leaflex™ Performer catheter, is delivered and positioned on the valve, to then mechanically score the calcification at multiple locations, restoring leaflets flexibility and improving valve hemodynamics.