{"id":24676,"date":"2026-06-23T12:30:00","date_gmt":"2026-06-23T10:30:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=d65133d443dbfc21bf45eca75234fd21"},"modified":"2026-06-23T12:30:00","modified_gmt":"2026-06-23T10:30:00","slug":"croivalve-announces-expansion-of-series-b-financing-with-27-million-additional-capital-to-fund-duo-adapt-in-an-enlarged-tandem-ii-study","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=24676","title":{"rendered":"Cro\u00edValve Announces Expansion of Series B Financing with $27 Million Additional Capital to Fund DUO Adapt in an Enlarged TANDEM II Study"},"content":{"rendered":"

DUBLIN--(BUSINESS WIRE)--Cro\u00edValve, a pioneering medical device company focused on the development of a novel transcatheter device for the treatment of tricuspid regurgitation, announced today the closing of $20 million Series B expansion financing, along with $7 million European Innovation Council (EIC) and DTIF grant financing. Bringing the total for Series B to $36 million, and $43M including grant financing. The financing includes new investors BGF and EIC, along with participation from current investors including the MedTech Syndicate. Cro\u00edValve welcomes Tim Rea, Co-Head of Early Stage investments at BGF, to its Board of Directors.<\/p><\/a><\/a><\/a><\/a>

\nProceeds from the financing will be used to fund an expanded TANDEM II Study, a US and EU based prospective, multicenter study to evaluate the safety and performance of the DUOTM<\/sup> Adapt System in patients with severe or greater symptomatic tricuspid regurgitation (TR). This study is being expanded beyond the 15 patients already treated, to include additional US and EU sites.<\/p>

\nThe DUOTM<\/sup> System is a novel transcatheter heart valve that preserves the patient\u2019s native anatomy while treating TR. It works in tandem with the native tricuspid valve to restore valve function while avoiding contact with critical structures in the right heart which could lead to complications. Designed to treat the heterogeneity of the TR patient population, this includes patients who are challenging for other transcatheter therapies to treat. It enables a straightforward procedure to reduce the procedural and imaging complexity seen with other devices. The novel technology includes a coaptation valve that is positioned between the leaflets of the tricuspid valve to prevent blood flowing backgrounds. The DUO Adapt System includes optimization of the coaptation valve to fill larger, complex leaks by adapting to the patient\u2019s individual leak shape, introducing a new category in treating TR known as Adaptive Coaptation. Promising early clinical use with the DUO Adapt System highlights the ability to treat very large leaks, up to 35mm, with significant reduction in TR.<\/p>

\nTricuspid regurgitation is a severe heart condition that occurs when the tricuspid valve in the right side of the heart fails to close properly. Recently highlighted as the highest prevalence valve disease, with 3.7% of people over 65 developing moderate or greater TR. It affects over 4 million people in Europe and the U.S. and is associated with significant symptoms and reduced life expectancy.<\/p>

\nTim Rea, Co-Head of Early Stage Investments at BGF, said: \u201cThe team\u2019s commitment to finding solutions to a major clinical problem is hugely impressive, treating a debilitating disease without the need to resort to invasive surgery. Cro\u00edValve\u2019s differentiated technology positions it well to address a large and growing market for structural heart devices and we\u2019re excited to partner with them as they accelerate the trials and testing process.\"<\/p>

\n\"Healthcare innovation matters most when it helps address challenges that affect millions of people. Cro\u00edValve is developing a novel approach to treating a serious heart condition that remains difficult to manage with existing therapies, particularly for patients who aren\u2019t suitable candidates for invasive surgery. This is precisely the kind of breakthrough innovation the EIC supports: technologies with the potential to improve quality of life, strengthen Europe's medical technology leadership and deliver meaningful societal impact,\" said Hermann Hauser, Board Member of the EIC Fund.<\/p>

\nAbout Cro\u00edValve<\/b><\/p>

\nCro\u00edValve is a clinical stage medical device company focused on the development of a novel transcatheter device for the treatment of tricuspid regurgitation with Research, Development & Operations based in Ireland and Clinical & Regulatory based in the US.<\/p>

\nCaution: The DUOTM<\/sup> System is an investigational device and not for sale in any geography.<\/p>

\nAbout BGF<\/b><\/p>

\nBGF has invested \u00a35 billion in 650 businesses since 2011. It provides flexible capital as a minority equity partner. Initial investments in growth-stage business are between \u00a33 million and \u00a330 million, and between \u00a33 million and \u00a310 million for earlier-stage businesses. BGF provides follow-on funding to support further growth, and tailored value creation support from investment to exit.<\/p>

\nwww.bgf.co.uk<\/a> \/ @BGF<\/p>

\nAbout EIC Fund<\/b><\/p>

\nThe European Innovation Council Fund from the European Commission is a deep tech investor across all technologies. The EIC Fund aims to fill a critical financing gap, to support companies in the development and commercialisation of disruptive technologies. With its large network of capital providers and strategic partners it shares risk and crowds in market players.<\/p>

\nhttps:\/\/eic.ec.europa.eu\/<\/a><\/p>

\nAbout Medtech Syndicate<\/b><\/p>

\nMedtech Syndicate are an Irish-based syndicate dedicated to fostering innovation within the Medical Technology ecosystem. Founded in 2014 by seasoned entrepreneurs and former leaders from renowned medtech companies such as Medtronic, Boston Scientific, Abbott, and Creganna. They specialise in investing in medical devices, hardware, and diagnostic technologies. Medtech Syndicate has proudly supported Cro\u00edValve since 2018<\/p>

\nwww.medtechsyndicate.com<\/a><\/p> Contacts<\/b>

\nLinda Macken\nTel: + 353 1 255 2139\nEmail: linda@croivalve.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"

DUBLIN–(BUSINESS WIRE)–Cro\u00edValve, a pioneering medical device company focused on the development of a novel transcatheter device for the treatment of tricuspid regurgitation, announced today the closing of $20 million Series B expansion financing, al…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-24676","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/24676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24676"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/24676\/revisions"}],"predecessor-version":[{"id":24677,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/24676\/revisions\/24677"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}