Adona Medical Raises Financing for Interatrial Shunt and Pressure Monitoring Solution

July 10, 2024—Adona Medical, a privately held portfolio company of Shifamed, LLC, announced it has secured $33.5 million in Series C financing that will be used to further product development and to initiate clinical use of the company’s adjustable interatrial shunt with integrated bi-atrial pressure monitoring. Shifamed is a specialized medical innovation hub.

Adona is a preclinical stage medical technology company developing interatrial shunting and remote patient monitoring solutions for patients with advanced heart failure. The company’s heart failure management platform is an investigational device and is not approved for use in the United States or anywhere in the world.

According to the company, the Adona device includes a shunt with a flow channel that has adaptable geometry; it can be made larger or smaller after implantation via the company’s induction catheter. In addition, integrated sensors capture pressure readings from both the left and right atria multiple times per day without requiring patient interaction.

“Heart failure is a complex condition that benefits from an individualized treatment paradigm, yet many of the device-based treatment options available today offer a one-size-fits-all approach,” commented Paul Sorajja, MD, in the company’s press release.

Dr. Sorajja, who is the Roger L. and Lynn C. Headrick Family Chair of the Valve Science Center, Minneapolis Heart Institute Foundation in Minneapolis, Minnesota, continued, “Adona’s innovative shunt and sensor pairing aims to provide a more individualized management strategy and is designed so that shunt flow can be adjusted to best suit the needs of each individual patient, both initially and as their condition evolves over time. I look forward to working with the Adona team as they move into clinical use later this year.”

The financing was led by Cormorant Asset Management and TCP Health Ventures, with participation from Excelestar Ventures, the PA MedTech VC Fund II, Unorthodox Ventures, AMED Ventures, and other new and existing investors.