Relief Cardiovascular Secures $12M Series A to Propel Heart Failure Solution
Deal News | Jan 09, 2025 | advent life sciences llp
Relief Cardiovascular, a company focused on innovative heart failure management solutions, has secured $12 million in Series A financing to advance its Relief System into first-in-human studies. This funding round was co-led by Advent Life Sciences and Broadview Ventures, with additional participation from Pacific Health Investment, Heartwork Capital, and an undisclosed multinational strategic. The Relief System is a transcatheter smart implant designed to monitor and modulate renal vein pressures, offering a novel method for fluid management in heart failure patients. The financing will support product development and the initiation of clinical studies to evaluate the system's safety and efficacy. Notably, Shahzad Malik from Advent Life Sciences and Maria Berkman from Broadview Ventures are joining the company's board. The Relief System's capability to integrate monitoring and pressure modulation is seen as a promising advancement in addressing diuretic-resistant heart failure. This development marks a significant milestone for Relief Cardiovascular and its efforts to transform heart failure treatment.
Sectors
- Healthcare Technology
- Venture Capital
Geography
- United States – Relief Cardiovascular is based in Irvine, California, and the venture capital activities predominantly involve firms with significant US presence.
- United Kingdom – Advent Life Sciences, one of the lead investors, has a presence in the UK, highlighting transatlantic venture capital relationships and investments.
Industry
- Healthcare Technology – The development of the Relief System, a transcatheter smart implant, places Relief Cardiovascular within the Healthcare Technology sector, focusing on medical device innovations.
- Venture Capital – The funding activities and involvement of venture capital firms like Advent Life Sciences and Broadview Ventures classify the article within the Venture Capital industry.
Financials
- 12000000 – The amount raised in Series A financing by Relief Cardiovascular.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Relief Cardiovascular | Target Company | Company | A medical device company developing innovative solutions for heart failure management, specifically the Relief System. |
| Advent Life Sciences | Co-Lead Investor | Company | A venture capital firm specializing in life sciences investments, co-leading the Series A financing round. |
| Broadview Ventures | Co-Lead Investor | Company | A mission-driven investment firm focused on cardiovascular solutions, co-leading the Series A financing. |
| Pacific Health Investment | Investor | Company | An investor participating in the Series A funding round. |
| Heartwork Capital | Investor | Company | An investor participating in the Series A funding round. |
| Shahzad Malik | Board of Directors | Person | General Partner at Advent Life Sciences, joining Relief Cardiovascular's board. |
| Maria Berkman | Board of Directors | Person | Head of Medtech at Broadview Ventures, joining Relief Cardiovascular's board. |
| Alex Cooper | CEO | Person | CEO of Relief Cardiovascular. |
| William T. Abraham | Expert | Person | Professor of Medicine at The Ohio State University Wexner Medical Center, providing expert commentary. |
| Alex Rothman | Expert | Person | Professor of Cardiology at the University of Sheffield, providing expert commentary. |
| inQB8 Medical Technologies | Incubator | Company | The incubator behind Relief Cardiovascular, specializing in developing medical device solutions. |