FineHeart Successfully Raises €15 million Series B funding With Industrial and Independent Investors
FineHeart S.A, a preclinical medical device company that has developed the ICOMS FLOWMAKER®, an Implantable Cardiac Output Management System designed to address the unmet need of patients suffering from severe heart failure, today announced the successful completion of a €15 million funding round. This enables FineHeart to prepare for First-In-Human clinical trials planned for 2022.
The financing was realized with a pool of industrial and independent investors:
• Two industrial groups: Lauak, making its first investment since creation outside the aeronautics sector, and Doliam, a specialist in implantable medical components and devices.
• FineHeart Founders’ Holding, brings together international private investors, mainly from the cardiology sector, and the European investment fund Verve Ventures. They join historical shareholders Irdi, Aquiti, Galia, Broadview Ventures, and M Capital, who have renewed their support for FineHeart.
“I am delighted to have completed this financing with such a complimentary pool of investors who are committed to FineHeart’s long-term growth and who share our ambition to become a new name worldwide in medical devices for cardiology,” said Arnaud Mascarell, CEO and Cofounder FineHeart. “This consortium of shareholders represents a new approach, going beyond straightforward financial support. We have brought together know-how from the world of technological excellence and renowned medical expertise, shown by the substantial contribution from cardiologists, who have individually invested through the FineHeart Founders Holding Company. I am extremely grateful for their support, and I reiterate our determination to deliver the disruptive treatment that the ICOMS FLOWMAKER® represents.”
This financing operation is a significant achievement for FineHeart in the run-up to clinical trials. The ICOMS FLOWMAKER® has successfully accomplished all the key milestones prior to First-In-Human trials. The international medical community welcomed these preclinical trial results as an efficient solution to treat severe heart failure, thus validating the potential for the ICOMS FLOWMAKER® as an effective treatment.