Michael Barbella, Managing Editor05.16.22
CardioRenal has secured funds 3.3 million in euros ($3.7 million) from business angels and longstanding company shareholders (the management) as part of a round of seed capital financing.
The funding will enable the company to pursue clinical and regulatory approval in preparation for the CE marking of its integrated tool, which is expected in 2023. CardioRenal completed a clinical trial on the technology in October 2021.
“This fundraising will support our roadmap for our forthcoming launch in Europe and the United States. We would like to thank our investors for their confidence and for joining us on this round, which has surpassed our expectations,” said Maurice Bérenger, CEO of CardioRenal.
Globally, around 700 million people live with chronic kidney disease, with many more likely still undiagnosed. These patients frequently have fluctuating blood potassium levels, which exposes them to possible cardiac complications. The associated cardiovascular events account for up to 30 percent of deaths in patients with chronic kidney disease.
The funding will enable the company to pursue clinical and regulatory approval in preparation for the CE marking of its integrated tool, which is expected in 2023. CardioRenal completed a clinical trial on the technology in October 2021.
“This fundraising will support our roadmap for our forthcoming launch in Europe and the United States. We would like to thank our investors for their confidence and for joining us on this round, which has surpassed our expectations,” said Maurice Bérenger, CEO of CardioRenal.
Globally, around 700 million people live with chronic kidney disease, with many more likely still undiagnosed. These patients frequently have fluctuating blood potassium levels, which exposes them to possible cardiac complications. The associated cardiovascular events account for up to 30 percent of deaths in patients with chronic kidney disease.
CardioRenal’s mission is to improve chronic cardiovascular disease care for patients at home. Its platform enables doctors to optimize patient treatment through remote monitoring of key blood biomarkers.