Experienced private medical device investors participated in the Seed+ financing round. To date, CorFlow Therapeutics AG has raised more than 5 million Swiss francs in seed funding.
The Baar-based startup will use the proceeds to finance a clinical trial in Europe with 80 patients. The study will investigate the company’s technology for diagnosing and treating microvascular obstruction (MVO) after a heart attack. The CorFlow Controlled Flow Infusion (CoFI) technology will be tested for the first time in this clinical trial, and the results will be compared to the current standard of care.
The Seed+ financing round will be the basis for raising a larger A financing round in an effort to secure long term R&D, clinical and regulatory activities, according to a CorFlow Therapeutics statement.
“The CorFlow Controlled Flow Infusion technology is a compelling and powerful new approach to diagnose and potentially treat microvascular obstruction after a heart attack,” said three of the new investors, world-renowned medical device entrepreneurs Jacques Séguin and Arshad Quadri, and the French cardiologist Dr Jean-Claude Laborde.
Jon Hoem, CorFlow’s CEO and co-founder, believes that the trial results could open up new possibilities for treating MVO, which is a typical side effect of an acute infarction and is accompanied by a worsened prognosis.