Funding Will Support Clinical Trials of Procyrion's Aortix Percutaneous Blood Pump
July 9, 2019—Procyrion, Inc., a clinical-stage medical device company, announced the completion of a funding round that will support the development of its Aortix system. The Aortix system is a percutaneous, catheter-deployed, intra-aortic blood pump that is initially targeted for treating patients with heart failure and worsening kidney function (cardiorenal syndrome). The investment will fund the company’s pilot study through the activities needed to support the submission to the FDA of an investigational device exemption application for its pivotal trial.
The $30 million Series D funding round is being led by a new investor, Bluebird Ventures. Returning investors include Fannin Partners, Scientific Health Development, the State of Texas, and an undisclosed strategic investor. To date, Procyrion has raised more than $59 million in funding.
According to Procyrion, the Aortix device is designed and positioned in the body to simultaneously decrease the workload of the heart and improve kidney function. The funding will allow the company to make advances in the Aortix program, including making an assessment of the system’s ability to decongest cardiorenal patients in the pilot study.
Placed in the descending thoracic aorta between the heart and renal arteries, Aortix disrupts the harmful cardiorenal cycle in two ways. Above the pump, the device rests the heart by reducing afterload, resulting in increased cardiac output and decreased cardiac work. Downstream, it provides increased blood flow to the kidneys, resulting in increased urine output and a reduction in fluid overload, stated the company.