Financing Supports Development of 4Tech's TriCinch Transcatheter Tricuspid Valve Repair Device

March 21, 2016—4Tech Inc., a privately held developer of a transcatheter treatment for tricuspid regurgitation, announced today that it has secured $29 million in series B financing, which will be used to gain European market entry for the 4Tech TriCinch system for transcatheter tricuspid valve repair.

Additionally, the company announced that it has appointed Hardip Thakerar as Global Vice President of Therapy Development to oversee all sites enrolling patients in the 4Tech PREVENT clinical trial. Thakerar will also be responsible for identifying and training new sites in Europe and globally.

According to the company, the 4Tech TriCinch system is designed to allow clinicians to repair a diseased tricuspid heart valve in a simple and reproducible interventional procedure. It is intended to reduce tricuspid regurgitation and restore patient quality of life, while allowing substantial potential cost savings. The device features a unique anchoring and tensioning mechanism.

The 4Tech TriCinch system is in the early phase of development. It is not available for sale and it is not available for United States clinical trials, advised the company.