US medical device company Laplace Interventional has completed a Series C financing round to support the completion of an early feasibility study (EFS) of its transcatheter tricuspid valve (TTV) technology.
The company raised $22m in funding, which will also be leveraged to approve a pivotal trial.
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According to Laplace, the device is tailored to improve the quality of life for patients with tricuspid regurgitation (TR), offering a minimally invasive alternative by eliminating the need for open-heart surgery and minimising complications for these individuals.
An undisclosed global strategic investor led this financing round while attracting contributions from new investors Unorthodox Ventures and Aphelion Cardeation. Current investors JWC Venture, Features Capital, and Engage Venture Partners also took part in the Series C round.
Laplace Interventional CEO and founder Ramji Iyer said: “This round of financing marks a significant milestone for the company and further validates our progress over the past few years.
“We are grateful to our patients, physicians as well as new and existing investors for their continued support and look forward to working towards starting a pivotal trial.”
In February 2024, the company completed its first-in-human procedure using the Laplace transcatheter tricuspid valve replacement system.
The procedure was performed by Drs George Makdisi and Thomas Waggoner at the US Heart and Vascular Institute at Tucson Medical Center, with Dr Pradeep Yadav at Piedmont Heart Institute serving as a clinical proctor.
It was carried out under the Food and Drug Administration-approved EFS clinical protocol, which was used to assess the technical feasibility and safety of the system.
The device is still currently under development and has not received approval or clearance from the US regulator or any other regulatory authorities.
In July 2023, Laplace closed a $12.9m Series B financing round, which was allocated for the initial trials of its transcatheter valve system.
