ConKay Medical Systems – a medical technology startup company that is developing a device for treating patients suffering from valvular regurgitation – announced it has closed an oversubscribed $1.8 million seed round. Multiple investment funds participated in the round including Unorthodox Ventures, SCP Ventures, WS Investment Company, and individual angel investors.
The company will focus on the Tricuspid Valve first. And the funding will support the growth and development of its one-size-fits-all annular repair catheter system.
There are over 70 million people worldwide with Tricuspid Regurgitation. The current devices – including those in trials – have significant limitations preventing patients with severe Tricuspid regurgitation from receiving treatment. And ConKay’s catheter is completely adjustable and addresses all the current limitations, including avoiding pacemaker leads. Without having to open a patient’s chest, the device mimics open heart surgery by leaving a minimal implant around the annulus of the valve.
KEY QUOTES:
“ConKay’s innovative technology addresses a significant unmet need experienced by tens of millions of patients. We’re pleased to support the company as it heads toward first-in-human clinical trial.”
– Unorthodox Ventures Founder Carey Smith
“Millions of Tricuspid Regurgitation patients worldwide are currently left with no medical options and at ConKay, our mission is to help patients live longer lives with their loved ones. We are grateful to our investors for their trust and support in helping us achieve this goal.”
– Albert Yuan, Founder and CEO of ConKay Medical
“Despite recent advances in the treatment of tricuspid regurgitation, it’s clear that none of the current technologies are capable of addressing even a fraction of all patients with TR. ConKay Medical has developed some really exciting technology to implement tricuspid annuloplasty. Their independent arms and novel anchor concepts are really exciting. Additionally, the range of annulus sizes their technology should be able to treat will open up therapy for almost everyone with TR, which would be a huge advance.”
– Dr. Jamie McCabe, Section Chief of Interventional Cardiology at the University of Washington, Seattle
