Corvia Medical raises $34m for heart failure implant

Corvia Medical, which is developing a cardiac implant designed to treat diastolic heart failure, yesterday said it raised a $34 million equity round.

Tewksbury, Mass.-based Corvia said in a regulatory filing that 9 unnamed investors participated in the round, which logged its 1st sale in June 2014. The company, formerly known as DC Devices, closed a $10.7 million funding round in March 2013 and added another $34 million in a Series D round in July 2014.

Patients with diastolic heart failure have stiffening in the left ventricle that prevents it from filling properly, raising the pressure in the left chambers and the lungs.

Corvia’s transcatheter InterAtrial shunt device is designed to lower blood pressure in the left atrium and lungs by creating a small opening between the left and right atria, according to Corvia’s website.

Corvia is running a 100-patient, single-arm safety and efficacy study of its IASD System II that’s due this month to collect data on the primary safety endpoint, major adverse cardiac & cerebrovascular events at 6 months, according to ClinicalTrials.gov. The trial, Reduce LAP-AF, is slated to be fully complete in May 2019.

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