Laplace Interventional announced it completed a Series C financing round to support its prosthetic heart valve technology.
An undisclosed global strategic investor led the financing round. New investors Aphelion Cardeation and Unorthodox Ventures joined in the Series C as well. The Minnapolis-based company also picked up funds from existing investors Engage Venture Partners, JWC Venture and Features Capital.
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Laplace plans to use the funds to aid in the completion of an early feasibility study (EFS) and work toward approval for a pivotal study.
The company develops a prosthetic valve device designed to improve the quality of life for those with tricuspid regurgitation (TR). Delivered through a minimally invasive procedure, the valve doesn’t require open-heart surgery, potentially reducing further complications.
Laplace looks to enter a TR treatment space currently led by Edwards and its Evoque tricuspid valve, which became the first transcatheter therapy approved to treat TR last year. Abbott also develops the TriClip device for treating TR, while the CroíValve investigational Duo tricuspid coaptation valve system could challenge, too.
“This round of financing marks a significant milestone for the company and further validates our progress over the past few years.” said Ramji Iyer, founder and CEO of Laplace Interventional. “We are grateful to our patients, physicians as well as new and existing investors for their continued support and look forward to working towards starting a pivotal trial.”
