- CroíValve secures an additional $20 million in Series B funding, bringing the round to $36 million.
- BGF joins as a new investor, enhancing CroíValve’s profile in the medtech space.
- The funding aims to expand the Tandem II Study, targeting tricuspid regurgitation treatments in the US and EU.
- CroíValve develops a non-surgical solution for a condition affecting many elderly patients.
- Trinity College Dublin’s spin-out continues to attract attention for its innovative approach in healthcare.
Trinity College Dublin’s medtech spin-out, CroíValve, has successfully closed a $20 million Series B expansion, now amassing a total of $36 million for its funding round. This financial boost, supplemented by a previous $7 million grant from the European Innovation Council and the Disruptive Technologies Innovation Fund, brings the overall funding, including grants, to $43 million. The latest investment round sees BGF entering as a new investor, alongside existing stakeholders such as the MedTech Syndicate.
CroíValve is making strides in the clinical development of its Duo Tricuspid Coaptation Valve System, which addresses tricuspid regurgitation — a severe cardiac condition often left untreated in elderly patients due to the risks associated with surgical interventions. The company’s focus on a minimally invasive therapy could significantly enhance treatment availability for those deemed unsuitable for surgery.
Tim Rea, co-head of early-stage investments at BGF, has expressed admiration for CroíValve’s commitment to tackling a pressing medical issue. “The team’s commitment to finding solutions to a major clinical problem is hugely impressive,” he remarked, adding that the company’s innovative technology positions it favorably within the expanding market for structural heart devices.
With the new funding, CroíValve plans to advance its Tandem II Study, an extensive multicentre trial across the US and EU. This study aims to assess the safety and efficacy of the DUOTM Adapt System in patients suffering from moderate to severe symptomatic tricuspid regurgitation. The research effort is set to extend beyond the initial 15 patients treated, suggesting a promising pathway for broader clinical application.
Hermann Hauser, a board member of the European Innovation Council Fund, underscored the importance of such innovations, stating, “CroíValve is developing a novel approach to treating a serious heart condition that remains difficult to manage with existing therapies.” He highlighted that this breakthrough could significantly enhance the quality of life for those affected, aligning perfectly with the EIC’s mission to boost Europe’s leadership in medical technology and drive meaningful societal impacts.
As CroíValve continues to pioneer advancements in the medical device sector, its trajectory reflects the growing momentum behind innovative healthcare solutions. In a world where age-related ailments are increasingly prevalent, the need for less invasive treatment options is more crucial than ever.
Interestingly, heart conditions remain the leading cause of death globally, emphasizing the urgency for effective treatments. CroíValve’s advancements may soon play a pivotal role in changing the landscape of cardiac care. For further details, visit Silicon Republic.
