Heart failure specialists raise $80M to ramp up work on new ventricular repair solution
Ancora Heart, a California-based healthcare technology company focused on heart failure, has closed a financing round worth $80 million.
The funds are expected to go toward ramping up clinical research on the company’s AccuCinch percutaneous ventricular repair system for patients with heart failure with reduced ejection fraction (HFrEF). AccuCinch, implanted during a minimally invasive procedure, is designed to reduce the left ventricle’s size as well as any ventricular wall stress. Two different multicenter trials—the Corcinch-HF study and the Corcinch-EU study—are currently underway that the company hopes will confirm AccuCinch’s effectiveness.
“Ancora Heart is at an exciting stage as we continue with our pivotal clinical trial to support our premarket approval submission to the FDA, and this investment will help us prepare for potential launch and subsequent commercialization,” Jeff Closs, president and CEO of Ancora Heart, said in a prepared statement. “We are grateful to our new and returning investors for their support for our vision to provide a promising new treatment option for people suffering from heart failure.”
Ancora Heart also announced that Beverly Huss, co-founder and CEO of Pagonia Medical, has been added to the company’s board of directors.
“Bev brings both private and public company board experience as well as significant operating experience and we are excited to add her talents to our board,” Closs said.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.