Adona Medical, a company that aims to deliver advanced solutions for heart failure, announced it has secured $33.5 million in Series C financing. The funding round will be used to further product development and to initiate clinical use of the company’s adjustable interatrial shunt with integrated bi-atrial pressure monitoring.
The funding was led by Cormorant Asset Management and TCP Health Ventures, with participation from Excelestar Ventures, the PA MedTech VC Fund II, Unorthodox Ventures, AMED Ventures, and other new and existing investors.
The Adona Medical interatrial shunt has a flow channel with an adaptable geometry that can be made larger or smaller post-implantation via the use of a proprietary induction catheter.
Adona’s device includes a shunt that features a flow channel with an adaptable geometry that can be made larger or smaller post-implantation via the use of a proprietary induction catheter. And the implantable device features integrated sensors designed to capture pressure readings from both the left and right atria multiple times per day without requiring patient interaction.
These daily readings could provide physicians with a more complete understanding of a patient’s hemodynamic status and can augment shunt therapy by enabling more informed medical management. Heart failure is a progressive condition that impacts approximately 6.5 million patients in the United States and as many as 26 million patients globally.
KEY QUOTES:
“Heart failure is a complex condition that benefits from an individualized treatment paradigm, yet many of the device-based treatment options available today offer a one-size-fits-all approach. Adona’s innovative shunt and sensor pairing aims to provide a more individualized management strategy and is designed so that shunt flow can be adjusted to best suit the needs of each individual patient, both initially and as their condition evolves over time. I look forward to working with the Adona team as they move into clinical use later this year.”
– Paul Sorajja, MD, Roger L. and Lynn C. Headrick Family Chair of the Valve Science Center, Minneapolis Heart Institute Foundation
“Despite advancements in heart failure therapies, challenges remain that limit patient applicability and physician adoption with first-generation devices. We are pleased to lead this round as we believe Adona’s technology has the potential to disrupt the field and benefit the millions of patients suffering from heart failure.”
– Bihua Chen, Founder and Managing Member of Cormorant Asset Management
“Adona is committed to improving outcomes for patients with heart failure. We’ve developed multiple innovative technologies that we believe will elevate the impact that is achievable with device-based interventions. The team has made tremendous progress in advancing our solution for heart failure management and we are grateful for the strong ongoing support from our investors as we take the next steps in our journey.”
– Brian Fahey, Co-Founder and Chief Executive Officer of Adona Medical
