Diastolic Heart Failure company CorAssist raises $5.25m. in financing CorAssist Cardiovascular, which develops therapeutic devices for Diastolic Heart Failure (DHF), a condition that affects 2.5 million patients in the US alone, 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.
Herzliya-Pituach based CorAssist, which was founded in 2002, has developed the ImCardia, an elastic device placed on the outer surface of the left ventricle. In preclinical studies the device harnesses elastic energy produced by the left ventricle during contraction, and releases it, assisting the heart during relaxation. First implantation in humans in expected early next year.
“There are currently no effective solutions to treat patients with diastolic heart failure, which account for nearly half of the heart failure population. The ImCardia-MIS and the CORolla have the potential to be real breakthroughs in the cardiothoracic and cardiology market,” said Dr. Dan J Gelvan, managing director of life sciences at Aurum Ventures.