Ancora Heart Has Raised $80M to Address HF

Santa Clara, CA-based Ancora Heart is developing the AccuCinch System, a device-therapy designed to improve the structure and function of the heart and help bring relief to HF patients who remain symptomatic despite current guideline-directed medical care.

Omar Ford

July 19, 2021

2 Min Read
AccuCinch MOA 3D Graphic (May 2019) copy.jpg
Courtesy of Ancora Heart

Ancora Heart, a private company focused on the treatment of heart failure, has raised an $80 million equity financing.

The Santa Clara, CA-based company is developing the AccuCinch Ventricular Restoration System. Ancora Heart’s AccuCinch System procedure involves a flexible implant that is attached to the inner wall of the left ventricle. The implant is intended to reduce the size of the left ventricle, reduce ventricular wall stress, and support and strengthen the heart wall.

The equity financing will help with the continued development of the device, specifically it will help support the CORCINCH-HF pivotal clinical study.

"[Proceeds from the financing] will be used to conduct our pivotal study,” Jeff Closs president and CEO of Ancora Heart, told MD+DI. “We received FDA approval for the pivotal study last June. It was a rather interesting period of time with COVID-19, of course. With these new funds we’re trying to [do] some significant hiring to ramp up the clinical trials. “

Ancora Heart's trial is designed to enroll up to 400 patients in 80 centers worldwide.

“The plan is to do a modular submission,” Closs said. “We’ll do a manufacturing piece; we’ll do a quality piece; and our preclinical [work].”

Ancora Heart’s CORCINCH-HF pivotal clinical study will allow an initial analysis of safety and clinical efficacy for PMA submission after the first 250 patients have reached six months of follow-up, and then a second analysis after the entire cohort has reached twelve months of follow-up. The study will ultimately follow patients through five years post-treatment to track long-term results.

The AccuCinch System is designed to augment the existing care cardiologists provide their HF patients. For patients in whom HF has progressed beyond the ability of medications and pacemakers to manage symptoms, the AccuCinch System may provide an effective treatment option by filling the gap between medication or pacemaker therapy and left ventricular assist devices (LVADs) or a heart transplant.

About the Author

Omar Ford

Omar Ford is a veteran reporter in the field of medical technology and healthcare journalism. As Editor-in-Chief of MD+DI (Medical Device and Diagnostics Industry), a leading publication in the industry, Ford has established himself as an authoritative voice and a trusted source of information.

Ford, who has a bachelor's degree in print journalism from the University of South Carolina, has dedicated his career to reporting on the latest advancements and trends in the medical device and diagnostic sector.

During his tenure at MD+DI, Ford has covered a wide range of topics, including emerging medical technologies, regulatory developments, market trends, and the rise of artificial intelligence. He has interviewed influential leaders and key opinion leaders in the field, providing readers with valuable perspectives and expert analysis.

 

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