Supira Medical Secures $120M Funding for Revolutionary Heart Pump Development

Supira Medical, a portfolio company of Shifamed, has successfully raised $120 million in a Series E funding round to advance the clinical development of its innovative temporary heart pump. The device, a percutaneous ventricular assist device (pVAD), is designed to support patients undergoing high-risk cardiac procedures or experiencing cardiogenic shock.

Breakthrough Technology and Clinical Progress

The Supira pVAD utilizes a catheter-based pump with a diameter of approximately 3.3 millimeters (10 French), allowing for minimally invasive deployment to assist weakened heart muscles. This technology has already received FDA breakthrough designation, highlighting its potential to address significant unmet needs in interventional cardiology.

Recent clinical milestones include:

• Completion of enrollment for a 15-participant U.S. feasibility study focusing on high-risk percutaneous coronary interventions (HRPCI)
• Treatment of 70 patients in South American trials

Investment Details and Strategic Partnerships

The latest funding round was led by Novo Holdings and the Qatar Investment Authority, with participation from two undisclosed strategic firms. Returning investors included Cormorant Asset Management, The Capital Partnership, 415 Capital, AMED Ventures, PA MedTech, and Unorthodox Ventures.

Christopher Shen, Partner at Novo Holdings and newly appointed board member of Supira Medical, emphasized the significant market opportunity: "We believe there is a massive unmet need for next-generation ventricular support devices to promote myocardial recovery and improve peripheral organ perfusion in HRPCI and [cardiogenic shock] patients."

Future Plans and Market Positioning

With the new capital infusion, Supira Medical aims to:

1. Expand into a U.S. pivotal study to support FDA premarket approval application
2. Further validate their advanced low-profile, high-flow technology platform
3. Accelerate market entry preparations

The company is positioning itself to compete with industry giants, notably Johnson & Johnson's Abiomed division, which was acquired for $16.6 billion in late 2022. Supira's focus on developing a next-generation ventricular support device places it at the forefront of innovation in interventional heart failure treatment.