Approxima reports that it has completed the first closing of a EUR 7.3 million Series A financing round. The round is led by ENEA Tech and Biomedical and Panakès Partners, with continued support from existing shareholders Club degli Investitori and other business angels. The round remains open for subscription by other co-investors in the coming months. In connection with the financing, Chiara Vieceli, an international cardiovascular expert, joined the Board of Directors and a further expansion of the Board is in progress.
“I am deeply honoured and grateful to have been appointed to the Board of Directors. It is truly exciting to be part of a team dedicated to transforming the lives of patients with tricuspid valve regurgitation through innovative therapies. Together, we are pioneering a solution that has the potential to restore physiological function to the tricuspid valve and have a profound impact on patient outcomes. I look forward to contributing to Approxima’s success and vision as we work towards this transformative goal,’ Vieceli comments in a note.
The funds raised from the new funding will be used to further advance the technology through conclusive pre-clinical testing and pilot clinical trials.
Approxima is a medtech start-up that is developing a percutaneous right ventricular remodelling technology for the treatment of patients with tricuspid regurgitation (TR). This technology has been developed to offer a transformative approach to treating TR patients by addressing its underlying cause, ventricular dilatation, and thereby restoring tricuspid valve function with a simple and efficient percutaneous implantation procedure. Its impact extends beyond the valve itself, while also improving right ventricular performance and maintaining all possible salvage options, including repair or replacement of the native valve.
“Over the past two years, our team has achieved important technological breakthroughs and provided solid pre-clinical evidence. We are thrilled to have closed this important funding round, backed by the continued support of our existing shareholders and a new investor who shares our vision. This milestone allows us to take the next significant step, which is the execution of pilot clinical studies,’ says Michal Jaworek, CEO and co-founder of Approxima
“There is an urgent need for new therapeutic solutions to address the growing clinical need posed by tricuspid valve regurgitation. With Approxima we are developing an innovative technology that promises to fill this critical gap and improve patient outcomes. The funding obtained will play a key role in accelerating patient access to this therapy,’ adds Paolo Denti, CMO of Approxima.
‘We have supported the company since its inception and continue to do so because we truly believe in this new and well-differentiated approach to offer a flexible treatment option to both doctors and patients,’ says Barbara Castellano, partner at Panakès Partners.
“This investment represents a significant step forward in precision medicine innovation. Approxima has developed a unique solution for the treatment of tricuspid insufficiency, a complex condition for which current treatment options have significant limitations. Our support for this innovative technology reinforces our commitment to promoting advanced, personalised solutions that not only improve patients’ quality of life, but also strengthen the national healthcare system by supporting the development of cutting-edge medical devices. This investment is a concrete demonstration of how the synergy between research, technology and capital can generate a positive and lasting impact on the country’s healthcare system,’ emphasises Maria Cristina Porta, Director General of ENEA Tech and Biomedical.
“The funding obtained will accelerate patient access to Approxima’s unique and transformative solution, which directly addresses the root cause of the disease. This technology is strategically positioned among the emerging treatments for tricuspid and is a perfect fit for the portfolios of the leading players in the structural heart industry,” says Umberto Pasquali, Chairman of the Board of Directors. (photo by spiros koufos on Unsplash)
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