CorWave raises $64M as it prepares to manufacturer its LVAD

This screen grab from a CorWave marketing video shows the inside of the French company’s LVAD. [Image courtesy of CorWave]CorWave announced today that its Series C round has brought in a total €61M ($64 million) to fund entry into clinical trials and initial manufacturing of its wave membrane LVAD.

The French LVAD developer said it will soon inaugurate manufacturing at its facility on the banks of the Seine River in Clichy.

The French government’s Société de Projets Industriels (SPI) fund, managed by Bpifrance, invested €15 million in the latest round. Another  €11 million came from European investors and entrepreneurs with strong industrial backgrounds. They include Exor Ventures, controlled by the Agnelli family (Ferrari, Stellantis), and Vlerick Group (textile and metal engineering).

“These investments are the result of demanding selection processes that demonstrate the relevance of our disruptive product and the seriousness of the work…

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CorWave touts ‘unprecedented’ study results

CorWave announced today that chronic in vivo studies of its implantable heart pump have proven “unprecedented” with strong results.

Presenting at the annual meeting for the International Society for Heart and Lung Transplantation (ISHLT), CorWave touted the study as the first ever to demonstrate sensorless synchronization of a pericardial pump with the native heart for over 30 days, according to a news release.

Clichy, France’s implantable left ventricular assist device (LVAD), which uses its breakthrough wave membrane pump technology, is designed to offer a wide range of flow conditions, gentle blood propulsion and to generate physiologic pulsatility in an effort to reduce the adverse events associated with current LVAD technologies.

Study results from the trials in which the CorWave device operated in pulsatile mode by synchronizing with the native heart without the aid of sensors demonstrated more than 97% success in detecting heartb…

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CorWave raises $40m in funding for breakthrough heart pump

CorWave announced today that it raised $40 million from a mix of returning and new investors for its wave membrane heart pump.

Clichy, France-based CorWave received funding — from three new investors joining its returning investors — which is earmarked for its implantable left ventricular assist device (LVAD) which uses its breakthrough wave membrane pump technology, according to a news release.

The funding collected in the round is slated to help the company finalize the development of its initial product, expand its manufacturing infrastructure, complete the regulatory processes required to conduct human implants and start its human clinical trials.

Existing shareholders Bpifrance, Novo Holdings, Seventure, Sofinnova Partners and Ysios Capital all significantly increased their stake in the company as part of the financing, too.

“This $40 million round gives us the means to achieve our ambitions,” CorWave CEO Louis de Lillers said in …

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