Fannin Partners led the round, which included the conversion of $10 million in interim financing. New and existing family/multi-family office investors partnered with Fannin Partners in the financing. Returning investors, including BlueBird Ventures and an undisclosed strategic investor, also participated.
Houston-based Procyrion plans to use the funds to support the ongoing DRAIN-HF pivotal IDE trial evaluating Aortix. The company designed Aortix for percutaneous mechanical circulatory support (pMCS) in patients with acute decompensated heart failure (ADHF) who remain congested despite standard medical therapy (cardiorenal syndrome or CRS). Procyrion enrolled the first patient in the trial in November 2023.
Aortix, a catheter-deployed pump, goes in the descending thoracic aorta. Procyr…