Ancora Heart Secures Financing to Accelerate CORCINCH-HF Trial of AccuCinch

July 19, 2021—Ancora Heart, Inc., a privately held company located in Santa Clara, California, that is developing a therapy to address heart failure (HF), announced it has closed an $80 million equity financing.

The funds will be used to accelerate the CORCINCH-HF pivotal clinical study of the company’s AccuCinch ventricular restoration system. The AccuCinch is designed to treat patients who have symptomatic HF with reduced ejection fraction. 

Sands Capital, Sio Capital, and an undisclosed strategic investor joined all existing investors in this financing.

According to the company, the completely transcatheter procedure with the AccuCinch system treats the enlarged left ventricle. The device-based therapy is 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.

The AccuCinch system is an investigational device, which is currently being evaluated in multiple clinical trials in the United States and European Union.

The CORCINCH-HF study is a prospective, randomized, open-label, multicenter, international trial investigating the clinical safety and efficacy of the AccuCinch system. CORCINCH-HF is designed to enroll 400 patients at up to 80 centers worldwide. In January 2021, the company announced the beginning of enrollment in the trial.

The study’s design allows initial analysis of safety and clinical efficacy for FDA premarket approval submission after the first 250 patients have reached 6 months of follow-up, and then a second analysis after the entire cohort has reached 12 months of follow-up.

The CORCINCH-EU study is a prospective, open-label, multicenter, international, clinical safety and performance investigation designed to enroll 132 patients at up to 40 centers across Europe.