Alleviant Medical Announces $90 Million Financing for Heart Failure Treatment

Alleviant Medical, Inc., a medical device company based in Austin, Texas, has secured $90 million in financing to support its second pivotal trial for a no-implant atrial shunt aimed at treating heart failure. The funding round, led by Gilde Healthcare and joined by Omega Funds, also saw participation from existing shareholders such as S3 Ventures, RiverVest Venture Partners, Vensana Capital, Longview Ventures, Gilmartin Capital, TMC Venture Fund, and undisclosed strategic investors.

The new pivotal trial, ALLAY-HFrEF, will be the first prospective sham-controlled trial focused on patients with heart failure and reduced ejection fraction (HFrEF) in the atrial shunt space. The Alleviant System, designed to alleviate excess pressure within the heart, offers a one-time procedure with no permanent implant remaining. This technology addresses a significant healthcare challenge, as heart failure is a leading cause of mortality and hospitalizations, costing the U.S. healthcare system an estimated $70 billion annually. 

The company's commitment to pioneering clinical trials for both major types of heart failure, HFpEF and HFrEF, has attracted strong investor support. Alleviant's CEO, Adam Berman, emphasized the company's dedication to providing an effective, minimally invasive treatment for heart failure patients. Alleviant Medical, Inc. has garnered significant support and is poised to make substantial strides in the development of therapies for heart failure.

The company is positioned as a leader in the cardiovascular medical field, with its Alleviant System having been granted U.S. FDA Breakthrough Device designation for both major forms of heart failure.

Alleviant Medical, Inc. is headquartered in Austin, Texas, and has garnered support from prominent investors, including Gilde Healthcare, S3 Ventures, RiverVest Venture Partners, Vensana Capital, Longview and Broadview Ventures, Omega Funds, Gilmartin Capital, ShangBay Capital, TMC Venture Fund, and strategic investors.

Source: Business Wire