TRiCares Topaz Tricuspid Heart Valve Replacement Device Development Supported by Series C Financing

December 12, 2022—TRiCares SAS recently announced the second closing and completion of its Series C financing round, raising a total of €51 million for the round. TRiCares, which is based in Paris, France, and Munich, Germany, is a privately held company focused on the minimally invasive treatment of tricuspid regurgitation (TR).

According to the company, the proceeds of this financing will primarily be used to continue the development of the TRiCares Topaz transfemoral tricuspid heart valve replacement system up through to the application for a pivotal investigational device exemption trial in the United States. TRiCares plans to initiate an early feasibility study across five centers in the United States and Canada in 2023.

Topaz is developed to treat patients with severe TR is implanted via the femoral vein. It is designed specifically to fit the tricuspid valve anatomy, supporting ease of positioning and functionality.

Additionally, the proceeds of this financing will support the ongoing TRICURE first-in-human clinical study in Belgium as well as potential additional clinical trial applications elsewhere in Europe, along with further compassionate use implantations as appropriate.

The Series C financing was led by 415 Capital and joined by Bayern Kapital, the venture/growth capital company of the State of Bavaria in Germany, with support from existing investors Andera Partners, BioMed Partners, Credit Mutuel Innovation, GOCapital, Karista, and Wellington Partners.