Dublin-based medtech startup CroíValve has raised €3.2 million in a funding round led by HBAN (Halo Business Angel Network) MedTech and Irrus Syndicates, alongside Atlantic Bridge University Fund, Enterprise Ireland, SOSV and a group of cardiologists.
A spinout from the Trinity Centre for Bioengineering, CroíValve has developed a minimally invasive treatment for tricuspid regurgitation (TR), a heart condition in which a valve doesn't close tight enough. This cardiac disease leads to severe consequences and could be deadly.
The problem that CroíValve is solving is that the majority of patients with TR are elderly, who are often too frail for open-heart surgery. The only remaining option for them is a medication that treats the symptoms but not the condition itself. CroíValve's device is “delivered through the heart's blood vessels and seals the gap between the native valve leaflets, therefore restoring the heart’s function and preventing regurgitation,” the startup explained in a press release.
In the photo (left to right): Helen Ryan, Senior Advisor, Atlantic Bridge; Bernard Collins, CroíValve Chairman and HBAN MedTech Syndicate member, and Dr. Lucy O'Keefe, CEO, CroíValve.