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news.CorAssist Cardiovascular, a developer of therapeutic devices for diastolic heart failure, has raised $5.25 million in a private financing led by Aurum Ventures MKI. The round was joined by previous investors Ofer Hi-Tech Group, Yozma Management, Evergreen Venture Partners and Argonaut Ventures.
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The ImCardia is an elastic device placed on the outer surface of the left ventricle. A breakthrough preclinical study has shown the ImCardia to harness elastic energy produced by the left ventricle during systole (contraction) and to release the energy and assist the heart during diastole (relaxation), the company said.
The CORolla is an elastic device placed inside the left ventricle through minimal invasive procedure. Preclinical studies have shown the device to be safe and to improve diastolic function. First implantation in humans is expected early in 2010, the company added.
Amir Loshakove, CEO of CorAssist, said: “We have made significant progress with the ImCardia, as well as with our minimally invasive devices, the ImCardia-MIS and the CORolla. This additional capital enables us to continue the execution of our strategy of leadership in therapeutic devices for diastolic heart failure.”