CorFlow Therapeutics has announced in a press release that it has successfully completed a €44 million Series B funding round. The round was led by Broadview Ventures, located in Boston, and Milan-based Panakès Partners. 415 Capital, CorFlow’s Munich-based existing investor and largest shareholder, participated again. Other backers included the international venture capital firms Merieux Equity Partners, Laerdal Million Lives Fund, Wellington Partners, M&L Investments, Unorthodox Ventures, KOFA Healthcare and Monte Carlo Capital.
CorFlow intends to use the fresh injection of capital to further develop its proprietary CoFI system. This innovative platform is used to diagnose and administer medication to treat microvascular obstruction (MVO) in heart attack patients while they are still in the catheter laboratory. According to the press release, the capital will also fund a pivotal study for diagnosis of MVO and a randomized control trial to evaluate MVO treatment using the CoFI system. This should pave the way for market clearance in the U.S.
“Recent data from over 70 patients in our MOCA I first-in-human trial and from our extensive preclinical program support our collective confidence that we can improve outcomes in patients who suffer heart attacks, specifically those patients whose microvascular disease goes undiagnosed and untreated today,” says Paul Mead, President and Chief Executive Officer of CorFlow.
“CorFlow has the potential to be the next significant breakthrough in treating coronary artery disease,” adds David Prim from Broadview Ventures. He has joined the company’s Board of Directors following the funding round, together with Barbara Castellano of Panakès Partners, Yoann Bonnamour of Merieux Equity Partners, and Rhiya Pau of Laerdal Million Lives Fund. ce/gba
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