BioVentrix pulls in $14m in funding round, touts

BioVentrix raised $14 million in a new round of equity funding and said it performed the 1st implantation of its micro-anchor Revivent device in a pre-clinical model.

The Revivent treatment is a transcatheter-based procedure known as less invasive ventricular enhancement that reduces the overall size of the wall of the heart’s left ventricle, without the need for cardiopulmonary bypass or incisions in the heart, according to the company.

The funds came from 64 anonymous investors, with the company looking to pull in another $3.5 million before the round closes, according to an SEC filing.

“The next generation of the Revivent therapy represents a tremendous advancement towards a fully percutaneous volume reduction procedure for heart failure patients. The new system will vastly improve the accuracy of anchor placement and enable a more minimally invasive approach,” Louis Labrousse of Bordeaux-Pessac, France’s Hospital Haut-Leveque said in a prepared remark.

BioVentrix was able to achieve the 1st implantation from entirely within the left ventricle  using a catheter-based endovascular approach.

“This is a significant and exciting step in the progressive evolution of the BioVentrix technology. The company continues to innovate its ground breaking therapy for less invasive LV volume reduction in heart failure patients with the goal of achieving a completely percutaneous approach. It reaffirms the company’s commitment to extend this therapy to a wider range of heart failure patients who are suffering from ischemic cardiomyopathy,” veep of medical affairs Dr. Ryan Brown said in a press release.

The company said it is hopeful that the next-generation system will be usable in clinical trials in early 2016.

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