Restore Medical – a clinical-stage MedTech company developing transcatheter therapies for heart failure – announced the closing of a $23 million Series B financing round. The funding round is co-led by Pitango HealthTech and a global strategic healthcare partner, along with the European Innovation Council (EIC) Fund, and continues to receive support from existing investors, such as Peregrine Ventures as well as another strategic partner.
How the funding will be used: The funding will be used for the completion of Restore Medical’s ongoing European feasibility study, which has demonstrated promising long-term safety and efficacy data, including meaningful improvements in ventricular reverse remodeling, hemodynamic performance, and patient functional capacity. This investment will also support the launch of a U.S.-based clinical study, following the Breakthrough Device Designation granted by the U.S. Food and Drug Administration (FDA) in 2024.
Restore Medical’s unique transcatheter approach introduces a new minimally invasive therapeutic option for heart failure patients who currently have limited effective treatment options.
KEY QUOTES:
“We are proud to have the support of such a strong and diverse group of partners, including two global strategic investors, the European Innovation Council Fund, and leading VCs such as Peregrine Ventures and Pitango HealthTech. Their confidence in our vision, team, and technology is a powerful endorsement. With encouraging clinical data and FDA Breakthrough Device designation, we are well positioned to advance this technology toward making a meaningful impact for patients worldwide.”
Gilad Marom, CEO of Restore Medical
“Heart failure remains one of the greatest unmet needs in medicine, both clinically and economically. As a clinician and executive in healthcare systems, I have seen firsthand how urgent the need is for better solutions. Restore Medical’s innovative approach, compelling early data, and exceptional leadership made it a clear choice for us to co-lead this round.”
Jonathan Glazer, MD. Partner at Pitango HealthTech
