Supira Medical announced today that it completed an oversubscribed Series E financing round, bringing in $120 million.
The clinical-stage Shifamed portfolio company also recently completed enrollment for its U.S. SUPPORT I Early Feasibility Study (EFS) evaluating its percutaneous ventricular assist device (pVAD) for treating high-risk percutaneous coronary intervention (HRPCI).
New investors Novo Holdings and Qatar Investment Authority (QIA) led the Series E. Two undisclosed strategic investors also participated, along with existing investors. Those include Cormorant Asset Management and The Capital Partnership (TCP), 415 Capital, AMED Ventures, PA MedTech VC fund and Unorthodox Ventures. Novo Holdings Partner Dr. Christopher Shen also joined the company’s board.
Supira plans to use the funds to expand its clinical programs for both HRPCI and cardiogenic shock (CS). The clinical expansion includes the SUPPORT II U.S. pivotal study for HRPCI. Los Gatos, California-based Supira plans to use evidence from that study to support FDA premarket (PMA) approval.
The investigational pVAD technology involves a high-flow from a low-profile catheter pump with real-time monitoring. The goal is to minimize vascular complications.
“We are grateful for the continued confidence and support from our current investors and delighted to welcome new world-class investors to this financing consortium,” said Dr. Nitin Salunke, president and CEO of Supira Medical. “This significant capital raise underscores the team’s tremendous progress as we look forward to exciting opportunities ahead of us to improve clinical outcomes for both HRPCI and cardiogenic shock patients.”
