CorVent Medical, a NYC-based company is developing smart, versatile, lifesaving ventilators for critical care, closed a $4.5M seed financing round.
The round was led by Sofinnova Partners with participation from Redmile Group, Exor Seeds, Genesis Medtech Group, The Deerfield Foundation, The Pagliuca Family Office, and Accel Founder Jim Swartz.
The company intends to use the funds for the commercialization of the first single-use, critical care ventilator that will enable rapid and affordable deployment with superior infection control.
Led by Mark Gelfand, CEO, CorVent Medical is committed to developing smart, versatile, lifesaving ventilators for critical care. The company’s first product, the CorVent™ Single-Use Ventilator, was designed in partnership with Design Catapult, an industrial design firm recognized for their rapid ideation of medical and commercial products. The ventilator is currently pending Emergency Use Authorization (EUA) issued by the U.S. Food and Drug Administration (FDA) for ventilators, tubing connectors and accessories, which authorizes its use for the duration of the U.S. Health and Human Services COVID-19 public health emergency declaration.
This device is not yet FDA cleared or approved. Funds will be used to finalize regulatory filings under the U.S. Food and Drug Administration’s Emergency Use Authorization (EUA) Act, to upon approval launch the CorVent™ Single-Use Ventilator, and to support future development of lifesaving devices for respiratory insufficiency.