USA – Procyrion, a Houston, TX-based medical device company, raised $57.7M in Series E funding, including the conversion of $10.0M of interim financing.
The round was led by Fannin Partners in partnership with new and existing family/multi-family office investors with participation from returning investors including Bluebird Ventures and an undisclosed strategic investor.The company intends to use the funds to support the ongoing DRAIN-HF pivotal IDE trial evaluating the Aortix™ percutaneous mechanical circulatory support (pMCS) device in patients with acute decompensated heart failure (ADHF) who remain congested despite standard medical therapy (cardiorenal syndrome or CRS). In addition, funds will support internal programs to improve product manufacturability and to prepare for commercialization. Led by CEO Eric S. Fain, Procyrion is a medical device company dedicated to providing effective treatment options for patients with cardiac and renal impairment. It is developing the Aortix™ percutaneous mechanical circulatory support device, a catheter-deployed pump technology that harnesses fluid entrainment to pump blood to address multiple conditions with unmet needs. Aortix is limited by Federal law to investigational use only and is not approved for sale in any geography.05/02/2024
