Croívalve Ltd. raised $16 million in a series B financing round that will be used to fund a clinical trial in the U.S. looking at the safety and performance of its Duo system to treat patients with severe or greater symptomatic tricuspid regurgitation.
Abbott Laboratories, of Abbott Park, Ill., reported that its Triclip transcatheter tricuspid valve repair system has received the CE mark. The device is a nonsurgical treatment for people with tricuspid regurgitation (TR), and, according to the company, it is the first minimally invasive, clip-based tricuspid valve repair device to be commercially available. The Triclip is delivered to the heart through the femoral vein in the leg and works by clipping together a portion of the leaflets of the tricuspid valve to reduce the backflow of blood.
Croívalve, a Dublin-based startup supported by Enterprise Ireland that is developing a treatment for tricuspid regurgitation (TR), recently secured €4 million (US$4.4 million) in additional financing. The financing includes €2.5 million from the EU's Horizon 2020 SME Instrument grant and €1.5 million from Broadview Ventures and current investors Halo Business Angel Network Medtech and Irrus Syndicates, Atlantic Bridge University Fund and Sos Ventures. The funding will accelerate the development of the company's technology into first-in-human (FIH) studies.
