CroíValve Raises Funds for Feasibility Study of Duo Coaptation Valve System to Treat Tricuspid Regurgitation

February 4, 2022—CroíValve announced it has raised €8 million in a Series A financing round. The funding will support a European feasibility study of the company’s CroíValve transcatheter tricuspid Duo coaptation valve system to treat tricuspid regurgitation (TR).

CroíValve, which is headquartered in Dublin, Ireland, was spun-out of Trinity College Dublin in early 2019.

According to CroíValve, the Duo system consists of a coaptation valve implant that works in tandem with the native tricuspid valve to restore valve function. The device is delivered percutaneously and is secured using an anchor system that leaves the right heart chamber and native valve apparatus untouched.

The company noted that temporary clinical implants of the Duo coaptation valve have demonstrated the ability to significantly reduce TR in patients with torrential TR, large annuli, and imaging difficulties.

The investment round was led by the HBAN (Halo Business Angel Network) MedTech and Irrus Syndicates, with existing investors Atlantic Bridge University Fund, Broadview Ventures, SOSV, and Enterprise Ireland and new investors Elkstone, Ascentifi, and DBIC.

Additionally, CroíValve announced that Azin Parhizgar, PhD, has joined its Board of Directors, and Helen Scotch has joined the company’s senior leadership team as Vice President of Clinical and Regulatory Affairs.