CroíValve raises €8m for life-saving heart tech

Dublin medtech company CroíValve has created life-saving heart technology.

CroíValve, a Dublin based medical device company developing a novel treatment for tricuspid regurgitation, has raised an €8m Series A round to fund a feasibility clinical study with its DUO Coaptation Valve system.

This novel approach to treating tricuspid regurgitation combines the best of repair and replacement to provide the right solution for the right heart.

“CroíValve is an early stage medical device company focused on developing a minimally invasive device for the treatment of tricuspid regurgitation”

The investment round was led by the HBAN (Halo Business Angel Network) MedTech and Irrus Syndicates, alongside existing investors Atlantic Bridge University Fund, Broadview Ventures, SOSV and Enterprise Ireland and new investors Elkstone, Ascentifi and DBIC.

Heart of the matter

The funding will support a European Feasibility Study of the CroíValve Transcatheter Tricuspid DUO Coaptation Valve System.

CroíValve has added Dr. Azin Parhizgar, PhD., a leading medical device entrepreneur in structural heart, to its Board of Directors. In addition, Helen Scotch has joined the Senior Leadership Team as Vice President of Clinical and Regulatory Affairs.

Tricuspid regurgitation (TR) is a severe heart condition that occurs when the tricuspid valve fails to close properly. This results in blood being pumped backwards into the right atrium and venous system causing debilitating symptoms.

The DUO System consists of a coaptation valve implant that works in tandem with the native tricuspid valve to restore valve function. The device is delivered percutaneously and is secured using a novel anchor system which leaves the delicate right heart chamber and native valve apparatus untouched.

It is designed to be implanted in a straightforward procedure using standard imaging and is suitable for a broad patient cohort, including those who are challenging to treat with other valve repair and replacement technologies.

This innovative approach has already generated convincing pre-clinical and clinical data. Temporary clinical implants of the DUO Coaptation Valve have demonstrated the ability to significantly reduce TR in patients with torrential TR, large annuli and imaging difficulties.

CroíValve is an early stage medical device company focused on developing a minimally invasive device for the treatment of tricuspid regurgitation. It is based in Dublin, Ireland and combines significant clinical, technical and commercial experience.

The business is led by CEO Dr Lucy O’Keefe, CFO Andrew Callanan, CMO Dr Martin Quinn, director of R&D Gavin Kenny and Operations director Stephen O’Sullivan.

Main image at top: Lucy O’Keeffe (CEO) and Gavin Kenny (R&D Director)

John Kennedy
Award-winning editor John Kennedy is one of Ireland's most experienced business and technology journalists.