{"id":142344,"date":"2024-09-11T11:06:03","date_gmt":"2024-09-11T09:06:03","guid":{"rendered":"https:\/\/www.startupbusiness.it\/?p=142344"},"modified":"2024-09-11T11:06:54","modified_gmt":"2024-09-11T09:06:54","slug":"corflow-therapeutics-completes-e44-million-series-b","status":"publish","type":"post","link":"https:\/\/www.startupbusiness.it\/en\/corflow-therapeutics-completes-e44-million-series-b\/142344\/","title":{"rendered":"CorFlow Therapeutics completes \u20ac44 Million Series B"},"content":{"rendered":"\n

CorFlow Therapeutics AG (CorFlow) announced that it has raised \u20ac44 million in Series B funding, co-led by Broadview Ventures and Panakes Partners<\/strong> with strong continued support from 415 Capital, CorFlow’s initial VC investor and largest shareholder. Merieux Equity Partners, Laerdal Million Lives Fund, Wellington Partners, M&L Investments, Unorthodox Ventures, KOFA Healthcare and Monte Carlo Capital participated in the multinational syndicate.<\/em><\/p>\n\n\n\n

Concurrent with the financing, David Prim of Broadview Ventures, Barbara Castellano of Panakes Partners, Yoann Bonnamour of Merieux Equity Partners, and Rhiya Pau of Laerdal Million Lives Fund have joined the CorFlow Board of Directors.<\/strong><\/p>\n\n\n\n

The Series B will fund the MOCA II (MVO with CoFI System Assessment II) pivotal study intended to gain US market clearance. The trial will run in the US and Europe and aims to validate CorFlow\u2019s CoFl system to diagnose MVO in heart attack patients immediately following stent implantation. Additionally, it will fund an adaptive platform therapy study evaluating treatment effects of therapeutic agents delivered locally through the CoFl system on heart attack patients diagnosed with MVO.<\/p>\n\n\n\n

MVO affects more than half of all patients who suffer an acute heart attack and is an independent predictor for heart failure and mortality. Currently not routinely diagnosed MVO remains largely untreated, leading to poor patient outcomes, and contributing to high health care costs associated with cardiovascular disease.<\/p>\n\n\n\n

CorFlow\u2019s CoFl system is being developed to provide timely, accurate and consistent detection of MVO while patients are still in the catheter laboratory (cath lab) immediately following the reopening of the larger epicardial arteries with a stent. Uniquely, the technology has been designed to also enable localized delivery of therapeutics to the microvasculature upon MVO diagnosis. CoFl also seamlessly integrates into standard workflows utilizing existing guide catheter and wire access.<\/p>\n\n\n\n

“We are thrilled to have closed on this significant round of financing, backed by a top-tier global syndicate of medical technology investors – commented Paul Mead, President and Chief Executive Officer of CorFlow in the note -. Recent data from over 70 patients in our MOCA I first in human trial and from our extensive preclinical program support our collective confidence that we can improve outcomes in patients who suffer heart attacks, specifically those patients whose microvascular disease goes undiagnosed and untreated today. There is overwhelming evidence now that microvascular conditions are a significant root cause of adverse outcomes in heart attack patients and other cardiovascular conditions. I am grateful that our new investors have the vision to see ‘where the puck is going’ in this rapidly emerging field.”<\/p>\n\n\n\n

The MOCA II IDE trial is designed to confirm the CoFl system\u2019s accuracy in diagnosing MVO in high-risk heart attack patients. Led by Principal Investigator Dr. Tim Henry of The Christ Hospital in Cincinnati, Ohio, the trial will recruit several hundred patients undergoing stent implantation due to ST-Elevation Myocardial Infarction (STEMI) and will compare CoFl’s proprietary dynamic diagnostic measurement of MVO to post-procedure Contrast Enhanced Cardiac Magnetic Resonance Imaging (CMRI), the current gold standard for detecting MVO. The MOCA II trial leverages the learnings from the company\u2019s First-In-Human MOCA I trial conducted in Switzerland, Latvia and the UK.<\/p>\n\n\n\n

“There is increasing awareness of the impact of MVO on patient outcomes following coronary revascularization. CorFlow has the potential to be the next significant breakthrough in treating coronary artery disease, and Broadview is delighted to be supporting this impressive team and technology,\u201d states David Prim of Broadview Ventures.<\/p>\n\n\n\n

“CorFlow’s breakthrough technology has been designed by clinicians for clinicians and we are excited to support CorFlow’s mission to generate robust clinical data in order to get this much needed therapy to the patient as quickly as possible – adds Barbara Castellano of Panakes Partners -. We also are committed to supporting the emerging field of microvascular disease in general, and this oversubscribed funding round gives us options to apply the technology in new ways, and in new geographies, where patients can benefit.\u201d<\/p>\n\n\n\n

The funding will also support a novel adaptive platform therapy trial in Europe evaluating whether localized delivery of therapeutics to the microvasculature immediately following stent implantation can improve outcomes in patients diagnosed with MVO. Led by Giovanni Luigi De Maria (Oxford University Hospitals Trust, UK) and Colin Berry (University of Glasgow and NHS Golden Jubilee National Hospital, UK), this European RCT will assess the effects of several therapeutic agents with both clinical and imaging measures up to six months.<\/p>\n\n\n\n

“The improvement in outcomes for heart attack patients has stagnated over many years now and we believe that real-time diagnosis and targeted therapy for MVO has the potential to save the lives of countless patients in the future – comments Frederik Groenewegen of 415 Capital -. We have long been believers in the CorFlow technology and team, and with the support of this first-class investor syndicate we now have the opportunity to collect the clinical data required to establish a new standard of heart attack care.”<\/p>\n\n\n\n

About CorFlow Therapeutics:<\/em> Headquartered in Baar, Switzerland, with offices in Italy, and founded in 2016 by Rob Schwartz, Martin Rothman and Jon Hoem. CorFlow aspires to be the leader in diagnostic and therapeutic solutions for restoring healthy microvascular blood flow anywhere in the human body where a critical need exists. Working in close partnership with scientists from the University of Bern, ETH Zurich and the University Hospital Zurich, in a collaboration funded by the Swiss Innovation Agency (Innosuisse), CorFlow continues to explore applications in and beyond the heart.<\/p>\n\n\n\n

About Microvascular Obstruction (MVO):<\/em> Often described as the “last frontier” in the treatment of acute heart attacks, MVO is characterized by blockages in the microvascular coronary arteries, which vary in size down to the circumference of a human hair. Previous research has identified that MVO is one of the most powerful prognostic indicators for future adverse outcomes – for every 1% increase in MVO, there\u2019s a corresponding 14% increase in one-year mortality risk and 8% increase in hospitalization due to heart failure. (photo : Jiroe (Matia Rengel)<\/a> on Unsplash<\/a>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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Co-fondatore di Designtech, l\u2019hub di innovazione che avvicina il mondo del design con quello della tecnologia. Advisor di Austrian Business Agency, Emil Banca, Fondazione Symbola, Fondazione Quadrans. Partecipa regolarmente a incontri, convegni, conferenze dedicate all\u2019ecosistema dell\u2019innovazione. E\u2019 stato co-organizzatore degli Italian Innovation Day and Series che si sono svolti dal dal 2016 al 2020 nelle citt\u00e0 di Tokyo in Giappone, Melbourne, Adelaide, Perth, Canberra in Australia e Singapore e co-organizzatore dell\u2019Italy India Innovation Day di AIICP 2021 e 2022. Ha curato il volume \u2018L\u2019innovazione che non ti aspetti. 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giornalista, fondatore e direttore di Startupbusiness, il primo magazine sull\u2019ecosistema startup e innovazione italiano. Co-fondatore di Designtech, l\u2019hub di innovazione che avvicina il mondo del design con quello della tecnologia. Advisor di Austrian Business Agency, Emil Banca, Fondazione Symbola, Fondazione Quadrans. Partecipa regolarmente a incontri, convegni, conferenze dedicate all\u2019ecosistema dell\u2019innovazione. E\u2019 stato co-organizzatore degli Italian Innovation Day and Series che si sono svolti dal dal 2016 al 2020 nelle citt\u00e0 di Tokyo in Giappone, Melbourne, Adelaide, Perth, Canberra in Australia e Singapore e co-organizzatore dell\u2019Italy India Innovation Day di AIICP 2021 e 2022. Ha curato il volume \u2018L\u2019innovazione che non ti aspetti. Contesti e visioni per l\u2019impresa\u2019 , l\u2019edizione italiana di \u2018La startup digitale, guida pratica step by step\u2019 e ha scritto la prefazione all\u2019edizione italiana de \u2018La quarta era\u2019 di Byron Reese, ed \u00e8 co-autore di \u2018Cosa e Dove: strategie digitali di ricerca del lavoro\u2019, tutti editi da FrancoAngeli. In passato \u00e8 stato curatore di StartupDigest Italy, coordinatore scientifico del Forum per la Ricerca della Provincia Autonoma di Trento, board member di TechChill Milano advisor di di ScaleIT , ha collaborato con Il Sole 24 Ore \u00e8 stato direttore di Innov\u2019azione, bimestrale edito da Apsti, ha collaborato con Corriere Innovazione ed \u00e8 stato presidente del comitato di selezione del Premio Marzotto e advisor di Cetif-Universit\u00e0 Cattolica Milano.","sameAs":["https:\/\/www.abirascid.com\/","https:\/\/www.linkedin.com\/in\/emilabirascid","https:\/\/x.com\/emilabirascid"],"url":"https:\/\/www.startupbusiness.it\/en\/author\/emil-abirascid\/"}]}},"author_name":"Emil Abirascid","categories_names":["Funding News"],"_links":{"self":[{"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/posts\/142344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/users\/125"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/comments?post=142344"}],"version-history":[{"count":1,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/posts\/142344\/revisions"}],"predecessor-version":[{"id":142347,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/posts\/142344\/revisions\/142347"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/media\/142345"}],"wp:attachment":[{"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/media?parent=142344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/categories?post=142344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/tags?post=142344"},{"taxonomy":"companies","embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/companies?post=142344"},{"taxonomy":"journalist","embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/journalist?post=142344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}