CorFlow raises CHF 2.6M in seed+ financing round

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24.10.2017

CorFlow Therapeutics AG, a Zug based medtech startup developing proprietary technologies for diagnosis and treatment of microvascular obstructions, has today raised CHF 2.6M in its Seed+ financing round. The round was led by experienced private medical device investors who over the last decades have supported breakthrough interventional cardiology technologies. To date the company has raised more than CHF 5M in seed funding.

The Seed+ proceeds will finance the 80 patients First-in-Man MOCA (MVO with CoFI System Assessment) clinical trial in Europe. The MOCA trial will investigate the diagnosis of microvascular obstruction (MVO) in up to 40 acute coronary patients and the potential therapy for these patients comparing the outcomes to current standard of care. The Seed+ round will be the basis for raising the larger A round securing the long-term R&D, clinical and regulatory activities of the company.

The seed investors were joined by the medical device entrepreneurs including Jacques Séguin and Arshad Quadri ("Q") who founded CoreValve and CardiAQ respectively Jean-Claude Laborde, a French interventional cardiologist deeply associated in the development of the CoreValve and CardiaQ technologies, showed very early and continuous support of the company.

In a joint comment, Jacques, Jean-Claude and Q stated "The CorFlow Controlled Flow Infusion technology is a compelling and powerful new approach to diagnose and potentially treat microvascular obstruction after a heart attack. We are proud to support a high quality European medical device company like CorFlow and look forward to follow and support the company as investors".

Jon H. Hoem, CorFlow's CEO and Co-Founder, said: "I'm very grateful for the continued and substantial support that we are receiving from our private investors. The fundament for the Seed+ financing is the data coming out of CorFlow's nonclinical trials and our solid milestone achievements. We are pleased that leading professionals like Jacques, Jean-Claude and Q share our view on the nonclinical data. These data are very exciting and open a completely new window to diagnose and potentially treat microvascular obstruction".

CorFlow will share the nonclinical data with European, US and Japanese key opinion interventional cardiologists in private meetings during the upcoming TCT conference in Denver. The data will also be presented to venture capitalists and medical device corporates.

About CorFlow Therapeutics AG
CorFlow Therapeutics is incorporated in Baar, Switzerland, and is developing proprietary technologies for diagnosis and treatment of microvascular obstructions (MVO) which is documented to be an independent marker leading to costly complications such as heart failure. The CorFlow technologies will enable interventional cardiologists to diagnose and treat MVO in severe heart attack patients thereby potentially reducing the short- and long-term complication rates in these patients.

(Press release)

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