Supira Medical, a Shifamed Portfolio Company, Closes $30M in an Oversubscribed Series C Financing
Supira Medical, Inc., a Shifamed portfolio company that is focused on developing a next-generation solution for temporary mechanical circulatory support, announced today the closing of $30M in Series C financing. Led by Cormorant Asset Management and The Capital Partnership (TCP), with participation from 415 CAPITAL, AMED Ventures, PA MedTech VC Fund and Shifamed angel investors, the funds will be used to finalize product development and initiate a first-in-human clinical study for the company’s high-flow, low-profile percutaneous ventricular assist device (pVAD).
“We are extremely pleased to close this round of financing with strong, continued support from our investors. This investment will further refine our technology platform that aims to minimize vascular complications and improve outcomes for high-risk PCI and cardiogenic shock patients,” commented Dr. Nitin Salunke, President and CEO of Supira Medical. “As we plan for our upcoming milestones, we look forward to initiating our first-in-human experience and gaining these valuable clinical insights.”
Percutaneous ventricular assist devices (pVADs) are used during stent placement or angioplasty to provide temporary mechanical support for high-risk patients with severe coronary artery disease or comorbidities. Additionally, pVADs are used to treat patients suffering from cardiogenic shock (CS), a condition that can occur following a severe heart attack, and is associated with a high rate of morbidity as a patient’s heart is suddenly too weak to adequately pump blood to vital organs.
“Temporary mechanical support enables a high-risk patient to undergo necessary interventions that their heart would otherwise not be able to tolerate. Despite current offerings, there is significant opportunity for further innovation in this large and growing market,” stated Bihua Chen, Founder and Managing Member of Cormorant Asset Management. “We are pleased to further invest in Supira Medical and are confident that the company’s novel approach will be a meaningful solution for physicians and patients.”
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