Corvia Medical, a company dedicated to transforming the treatment of heart failure, announced the closing of a $55 million funding round from its existing investment syndicate, which includes Third Rock Ventures, General Catalyst Partners, AccelMed, Lumira Ventures, and two strategic investors.
How the funding will be used: The funding will be used to complete the ongoing RESPONDER-HF trial, a double-blinded, randomized, sham-controlled, confirmatory trial of the Corvia Atrial Shunt currently underway at more than 65 institutions on three continents. And the study is expected to generate the final supportive clinical data required for FDA approval of the shunt as a breakthrough treatment for heart failure with preserved and mildly reduced ejection fraction (HFpEF/HFmrEF).
About heart failure (HF) and the Corvia Atrial Shunt: Over 26 million people worldwide have HF, and the majority have HFpEF, making it the largest unmet clinical need in cardiovascular medicine. And the Corvia Atrial Shunt was designed to reduce elevated left atrial pressure (LAP), the primary contributor to HF symptoms, by creating a passage between the left and right atria, reducing HF events and improving quality of life. The Corvia Atrial Shunt was granted Breakthrough Device designation by the FDA in 2019.
KEY QUOTES:
“We are profoundly grateful for the unwavering support of our longstanding investors as we advance toward FDA submission of the Corvia Atrial Shunt. Their commitment furthers our mission to bring this transformative heart failure treatment to millions of patients worldwide.”
George Fazio, CEO of Corvia Medical
“We firmly believe Corvia has the potential to fundamentally alter the landscape of heart failure treatment, and our investors share that vision. With these resources, we are well-equipped to drive the company through the approval process and introduce this groundbreaking therapy to the market.”
Paul LaViolette, Board Chair of Corvia Medical
