Pi-Cardia Ltd. has raised $27 million to develop a catheter-based solution to treat heart valve calcification. The Rehovot, Israel-based company said the financing was led by Sonfinnova Partners and joined by Professor Jacques Séguin, Chairman of the company, with further participation from existing investors.
The financing follows the successful completion of the company’s First-In-Human studies of the Leaflex Catheter.
Pi-Cardia said its technology performs mechanical scoring of valve calcification, restoring leafelts’ mobility and improving valve hemodynamics. The company added that the device can be used for patients who are not planning to undergo a transcatheter aortic valve replacement (TAVR) and it can be a means to defer those patients who may be too young for the procedure.
It can also be a preparatory step for improving the outcome of TAVR in heavily calcified and bicuspid aortic valves.
In a release, Pi-Cardia’s CEO and Founder, Erez Golan said, “With our very promising early results, we are now ready to move to the next stage and establish the long-term safety and efficacy of Leaflex as a standalone treatment for patients with aortic stenosis. We have an ambitious plan ahead of us, and we are dedicated to making Pi-Cardia's technology the next revolution in the treatment of structural heart disease.”