TRiCares Raises $50m in Series D Financing to Support Upcoming Clinical Milestones
Summary
The proceeds from this financing will primarily be used to support the company through upcoming US and EU clinical milestones for its transfemoral tricuspid heart valve replacement system, Topaz. The study will commence in the coming months, with patients to be enrolled at up to 8 potential sites in the United States and Canada, overseen by leading principal investigators Susheel Kodali, MD (NewYork-Presbyterian/Columbia University Irving Medical Center) and Gorav Ailawadi, MD (University of Michigan Health System).Preparations at potential sites are underway, with the completion of the study set to lay the foundations for an IDE Pivotal trial in the US. This financing builds on previous investments from leading European life science venture capital firms, to whom we are grateful for their ongoing support and counsel. To date, more than 25 Topaz implantations have successfully been performed across Europe and Canada.TRiCares previously closed a $55 million (51 million) Series C financing round, with investors including 415 Capital, Andera Partners, Bayern Kapital, BioMed Partners, Credit Mutuel Innovation, GOCapital, Karista and Wellington Partners.TRiCares is a dedicated medical device company located in Paris, France and Munich, Germany having the vision of bringing to the market a transfemoral tricuspid valve replacement system (TTVR). This catheter system is inserted via the femoral vein and transports the prosthesis into the right half of the heart, where it is finally released to replace the diseased tricuspid valve.