CorWave develops cardiac assist devices that leverage wave membrane technology to produce a physiological operation. Its devices are designed to mimic a pulse and blood flow rates similar to those of a healthy heart. This approach differs from today’s commercially available left ventricular assist devices (LVADs). The company intends to use newly raised funds to finance the next stages of its development. CorWave was founded in 2021 and is led by CEO Louis de Lillers. The firm is based in Clichy, France. CorWave develops an implantable wave membrane pump LVAD designed to reduce complications associated with current cardiac assist devices. The company plans to use the new funds to complete development of its pump, expand manufacturing infrastructure, finish regulatory testing required for human implants, and start clinical trials for advanced heart failure. CorWave has achieved two critical technical milestones: a successful 60-day in vivo implant with excellent hemocompatibility results and completion of six-month real-time durability tests. Incorporated in 2012 by MD Start and led by CEO Louis de Lillers, the French medtech employs more than 50 people. Prior to the Series C, CorWave had secured over €45 million of equity and non-dilutive funding. The company raised €35 million in the Series C to advance toward the clinical phase. CorWave develops mechanical circulatory support devices—specifically a left ventricular assist pump that mimics the native heart’s flow pattern. Its disruptive pumping technology is intended to overcome limitations of rotary LVADs, which are associated with high rates of stroke, bleeding and infection. The company says its R&D team has de-risked the technology and is gathering evidence that it could improve clinical outcomes. CorWave plans to use the new funding to prepare its pump for a first-in-man study. The company was incorporated by MD Start in 2011 and previously raised a Series A in 2013. Management includes CEO Louis de Lillers, chairman Gérard Hascoët, and R&D lead Carl Botterbusch.

Total raised

$127M

Funding rounds

3

Latest round

Equity

Latest activity

Jun 2023