Corvia Medical Secures $55 Million Funding for FDA Approval and Heart Failure Clinical Trial Completion

Corvia Medical Closes $55 Million Funding Round for Heart Failure Breakthrough

Corvia Medical, Inc., a prominent player in innovative heart failure treatment, has successfully closed a funding round of $55 million led by their existing investor consortium. This round includes notable participants such as Third Rock Ventures, General Catalyst Partners, AccelMed, Lumira Ventures, and two strategic investors.

The newly secured funds are earmarked for completing the ongoing international RESPONDER-HF study, which is a double-blind, randomized, placebo-controlled trial involving over 65 institutions spread across three continents. Data from this study will provide the necessary clinical evidence for the FDA approval of the Corvia® Atrial Shunt as an innovative treatment for heart failure with preserved and mildly reduced ejection fraction (HFpEF/HFmrEF).

George Fazio, the CEO of Corvia Medical, expressed immense gratitude towards the company's long-time investors for their unwavering support in moving forward with the FDA submission process. He emphasized that their commitment aligns perfectly with Corvia’s mission, which aims to deliver this transformative heart failure treatment to millions of patients worldwide.

The company’s board chairman, Paul LaViolette, echoed this sentiment, voicing strong belief in Corvia’s potential to fundamentally change the landscape of heart failure treatment. He pointed out that their investors share a collective vision and that with the resources acquired, the company is aptly positioned to navigate through the regulatory approval process, subsequently introducing the revolutionary therapy into the market.

Understanding Heart Failure and the Corvia Atrial Shunt

Heart failure officially affects over 26 million people globally, with a significant portion suffering from hypertension and related complications. This presents one of the biggest unmet clinical needs in cardiovascular medicine. The Corvia Atrial Shunt is ingeniously designed to alleviate elevated left atrial pressure, which is a leading cause of symptoms in heart failure. By creating a passage between the left and right atria, the device aims to reduce heart failure events and enhance the patients' quality of life.

The FDA granted the Corvia Atrial Shunt a Breakthrough Device designation in 2019, which underscores its potential to fill a significant therapeutic gap in heart failure treatment.

For additional information on eligibility for the RESPONDER-HF study, individuals can consult their website at treatmyheartfailure.com.

About Corvia Medical, Inc.

Founded in 2009 and headquartered in Tewksbury, MA, Corvia Medical, Inc. is at the forefront of revolutionizing heart failure treatment through cutting-edge transcatheter cardiovascular devices. The company focuses on fundamentally transforming care standards for heart failure, empowering patients to reclaim their lives. For more insights, visit corviamedical.com.

For media inquiries, Lisa Ensz can be reached at +1 978-654-6120 or via email at [email protected]