BioVentrix, a San Ramon, CA-based medical device company, raised $48.5M in Series A funding.
The round was led by Andera Partners with participation from Cormorant Asset Management, Taglich Brothers, Squarepoint Capital and Richmond Brothers. In conjunction with the financing, BioVentrix appointed Raphael Wisniewski of Andera Partners and Bihua Chen of Cormorant Asset Management to its Board of Directors.
The company intends to use the funds to support the completion of the pre-market approval (PMA) application for its Revivent TC system, manage expanded access to allow for additional procedures after the completion of enrollment in its PMA study, and initial preparations for commercial launch.
Led by Jim Dillon, President and CEO, BioVentrix is a medical device company focused on the development of less invasive therapies to treat the failing left ventricle (LV), the most common cause of heart failure. Its technologies aim to improve cardiac function by directly addressing LV dilation.
The BioVentrix Revivent TC System is designed to support a minimally invasive procedure to treat a dilated left ventricle of patients with ischemic heart failure with reduced ejection fraction (HFrEF) and extensive left ventricular scar who have a suboptimal response to guideline-directed medical therapy. The Revivent TC procedure employs myocardial micro-anchor implants to reconstruct the dilated left ventricle resulting in a more efficient chamber.
The company is preparing to submit the PMA application to the FDA later this year.
FinSMEs
13/04/2023