Cardiac Success Ltd., a Yokneam, Israel-based medical device startup, closed US $5.2M Series A financing.
The round was led by 415 Capital, a specialist medical technology venture capital firm who was joined by an unnamed strategic investor and global leader in structural heart interventions.
The company intends to use the funds for pre-clinical testing and the completion of a First-in-Human trial its “V-sling” heart failure therapy.
Led by Boaz Manash, CEO, Cardiac Success is advancing the “V-sling” system, which aims to provide a new treatment approach by transforming an invasive open-heart surgery into a minimally-invasive transcatheter procedure. The “V-sling” system is an anchorless implant to treat left ventricular dysfunction, where the left ventricle is not able to pump enough blood out of the heart leading to reduced ejection fraction and low cardiac output. The “V-sling” treats the problem directly at its source by repositioning the papillary muscles and restoring the conical shape of the left ventricle for improved cardiac function.
The functionality of the implant and delivery system has been demonstrated in pre-clinical studies. Cardiac Success has 4 granted United States (U.S.) patents, as well as additional patents pending in the U.S., Europe and other countries, protecting methods of treatment and the implant design.
The company was founded in 2017 in the Alon Medtech Ventures’ incubator by the serial entrepreneur Dr. Shimon Eckhouse and Dr. David Neustadter (Chief Technology Officer). The company’s management team includes Mr. Boaz Manash (CEO), an experienced R&D leader previously responsible for the Sapien M3 mitral valve program at Edwards Lifesciences (NYSE: EW) and Prof. Rafael Beyar (Chief Medical Officer), an internationally-recognized cardiologist and former director of Rambam Medical Center.
FinSMEs
24/06/2021