ConKay Medical Systems Raises $1.8 Million in Seed Funding

ConKay Medical Systems has closed an oversubscribed $1.8 million seed round, with support from Unorthodox Ventures, SCP Ventures, WS Investment Company, and individual angel investors.
 
“ConKay’s technology addresses a significant unmet need experienced by tens of millions of patients,” Unorthodox Ventures Founder Carey Smith said. “We’re pleased to support the company as it heads toward first-in-human clinical trial.”
 
With the company first focusing on the Tricuspid Valve, the funding will support the company growth and development of its one-size-fits-all annular repair catheter system.
 
“Millions of Tricuspid Regurgitation patients worldwide are currently left with no medical options and at ConKay, our mission is to help patients live longer lives with their loved ones. We are grateful to our investors for their trust and support in helping us achieve this goal,” ConKay Medical Founder/CEO Albert Yuan stated.
 
More than 70 million people worldwide suffer from tricuspid regurgitation. Current devices, including those in trials, have major limitations preventing patients with severe tricuspid regurgitation from receiving treatment. ConKay’s catheter is adjustable and tackles all the current limitations, including avoiding pacemaker leads. Without the need to open a patient’s chest, the device mimics open heart surgery by leaving a minimal implant around the annulus of the valve.
 
“Despite recent advances in the treatment of tricuspid regurgitation, it’s clear that none of the current technologies are capable of addressing even a fraction of all patients with TR,” explained Dr. Jamie McCabe, section chief of Interventional Cardiology at the University of Washington, Seattle. “ConKay Medical has developed exciting technology to implement tricuspid annuloplasty. Their independent arms and anchor concepts are really exciting. Additionally, the range of annulus sizes their technology should be able to treat will open up therapy for almost everyone with TR, which would be a huge advance.”
 
The company anticipates raising its next round of financing this quarter to support first-in-human testing.
 
ConKay Medical Systems is an early-stage medical device company advancing solutions to treat valvular regurgitation in patients with progressive heart failure.