Corvia Medical Secures $55M to Pursue FDA Nod for Atrial Shunt

Corvia Medical has closed a $55 million funding round from its existing investors Third Rock Ventures, General Catalyst Partners, AccelMed, Lumira Ventures, and two strategic investors.

The company said the funds will be used to finish its ongoing RESPONDER-HF trial. The double-blinded, randomized, sham-controlled, confirmatory trial is assessing the Corvia atrial shunt at over 65 facilities on three continents.

The study is anticipated to get final supportive clinical data needed for U.S. Food and Drug Administration (FDA) approval of the shunt as a breakthrough treatment for heart failure with preserved and mildly reduced ejection fraction (HFpEF/HFmrEF).

The shunt was designed to reduce elevated left atrial pressure (LAP), which is the primary cause of heart failure symptoms. It does this by creating a passage between the left and right atria, reducing HF events. The shunt was awarded breakthrough status by the FDA in 2019.

“We are profoundly grateful for the unwavering support of our longstanding investors as we advance toward FDA submission of the Corvia Atrial Shunt,” said George Fazio, CEO of Corvia Medical. “Their commitment furthers our mission to bring this transformative heart failure treatment to millions of patients worldwide.”

“We firmly believe Corvia has the potential to fundamentally alter the landscape of heart failure treatment, and our investors share that vision,” added Paul LaViolette, Board Chair of Corvia Medical. “With these resources, we are well-equipped to drive the company through the approval process and introduce this groundbreaking therapy to the market.”