#Israel #Heart Failure #Or Yehuda #FDA Breakthrough #Restore Medical

Restore Medical Ltd. Raises $23 Million to Advance Innovative Heart Failure Therapy

Restore Medical Ltd., a clinical-stage MedTech firm renowned for developing transcatheter therapies aimed at treating heart failure, recently announced its successful completion of a significant funding round, securing $23 million through Series B financing. This round was co-led by Pitango HealthTech and a prominent global healthcare partner, with additional investments stemming from past backers such as Peregrine Ventures and new contributions from the European Innovation Council (EIC) Fund.

This financial boost is earmarked to facilitate the ongoing European feasibility study, which has shown promising long-term safety and efficacy results. Significant improvements have been observed in ventricular reverse remodeling and patient functional capacity, reinforcing the device's potential utility in clinical settings. Following the Breakthrough Device Designation granted by the U.S. Food and Drug Administration (FDA) in 2024, these funds will also support the initiation of a U.S.-based clinical study.

The unique translational approach of Restore Medical’s device offers a minimally invasive alternative for heart failure patients experiencing limited treatment options. Gilad Marom, the CEO of Restore Medical, expressed pride in the diverse support from a strong roster of investors, indicating that their confidence not only validates the company's innovative vision but also enhances its credibility within the healthcare landscape. Marom emphasized, “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.”

The Urgent Need for Improved Heart Failure Treatments

Heart failure is increasingly recognized as a critical global health issue, characterized by the heart's diminishing ability to effectively pump blood. This chronic and progressive condition ranks as one of the leading causes of hospitalization and mortality around the globe, particularly among patients suffering from Heart Failure with Reduced Ejection Fraction (HFrEF). Despite the availability of various pharmacological treatments, many patients continue to experience distressing symptoms and remain at a heightened risk of recurrent hospitalizations, diminished quality of life, and premature death. The call for novel, device-based therapies grows stronger as existing medical interventions reach their limits in countering advanced heart failure.

Innovative Solutions from Restore Medical

Restore Medical is committed to revolutionizing heart failure treatment through the development of new transcatheter therapies intended to restore hemodynamic balance in patients and improve their clinical outcomes. Established within Peregrine Ventures' Incentive Incubator, Restore Medical was co-founded by a team of experienced professionals including CTO Stephen Bellomo, Medical Director Dr. Elchanan Bruckheimer, and entrepreneur Aaron Feldman. The company's innovative strategies have attracted significant backing from seasoned investors who boast robust expertise in the healthcare and innovation sectors, including Pitango HealthTech, Peregrine Ventures, the EIC Fund, as well as additional global strategic healthcare partners.

The Future of Heart Failure Therapy

With heart failure representing one of the most daunting unmet medical needs, particularly in light of the clinical and economic challenges it presents, Restore Medical’s forward-thinking solutions symbolize a beacon of hope for patients as well as healthcare providers. Jonathan Glazer, MD, a Partner at Pitango HealthTech, noted the pressing requirement for advancements in heart failure management by stating, “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 and compelling early data make it a clear choice for us to co-lead this funding round.”

In summary, Restore Medical's recent capital raise is not just a financial milestone but an important step towards potentially transforming heart failure treatment modalities. As the firm equips itself to move forward, its journey offers a glimpse into an evolving landscape of medical device innovation that seeks to directly address and alleviate the challenges faced by heart failure patients worldwide.