CroíValve has expanded its Series B financing to $36 million, adding $20 million in new funding to the $16 million raised in 2024. The company also secured $7 million in grant funding from the European Innovation Council (EIC) and Ireland’s Disruptive Technologies Innovation Fund (DTIF).
The funding will support expansion of the TANDEM II clinical study evaluating CroíValve’s Duo Adapt system for patients with severe symptomatic tricuspid regurgitation (TR). The company plans to enroll more patients and add new clinical sites across the U.S. and Europe.
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CroíValve’s Duo Adapt device is a minimally invasive, catheter-delivered therapy designed to work alongside the native tricuspid valve, helping restore valve function without altering the heart’s existing valve structure. The company says the technology can address large and complex valve leaks through its adaptive coaptation design.
Tim Rea, co-head of early-stage investments at BGF, said:
“CroíValve’s differentiated technology positions it well to address a large and growing market for structural heart devices.”
Hermann Hauser, board member of the EIC Fund, added:
“CroíValve is developing a novel approach to treating a serious heart condition that remains difficult to manage with existing therapies.”
The financing strengthens CroíValve’s clinical development efforts as it advances a new minimally invasive treatment option for patients with tricuspid valve disease.
