US-based medical technology firm Reprieve Cardiovascular has closed a $61m Series B financing round to advance its advanced decongestion management therapy for acute decompensated heart failure (ADHF).
The financing, led by Deerfield Management and supported by several other investors, combines equity investment with a debt facility.
Other investors include Arboretum Ventures, Lightstone Ventures, Sante Ventures, Genesis Capital, Rex Health Ventures, and Cadence Capital, along with an undisclosed investor.
Reprieve intends to use the funding to advance the FASTR 2 clinical trial, which has already enrolled its first patient, and other key commercial readiness activities.
The study aims to evaluate the efficacy of the Reprieve system in comparison to optimal diuretic therapy for patients hospitalised with ADHF.
Deerfield Management Venture partner and Board of Directors member David Neustaedter said: “We continue to be encouraged by the company’s clinical data and look forward to supporting their progress through this critical next stage of clinical and commercial development.”
Rex Health Ventures managing director Anita Watkins said: “Reprieve Cardiovascular is addressing a significant unmet need in today’s heart failure management paradigm, and the results from the FASTR pilot study underscore the potential of the Reprieve system to reimagine the standard of care for treating ADHF.
“We see unique opportunities to strategically partner with Reprieve to enhance and accelerate this innovative therapy.”
After the completion of the FASTR pilot study last year, which met primary efficacy and safety endpoints, the larger FASTR 2 clinical trial seeks to build on the initial results.
The trial plans to enrol up to 400 patients across Europe and the United States, supporting a future premarket approval submission in the US.
The Reprieve system is designed to personalise decongestion management, efficiently removing excess fluid and sodium while maintaining kidney function.
It combines real-time physiological monitoring with automated recommendations to tailor treatment, aiming to improve patient outcomes and reduce hospital readmissions.
Reprieve Cardiovascular CEO Mark Pacyna said: “We are pleased to close this latest financing round, which reflects the strong continued support of our existing investors, as well as the addition of new investors, who each bring unique strategic insights to Reprieve.
“This capital ensures we are positioned to generate the clinical and economic evidence essential for regulatory approval and commercialisation. “We believe our personalised approach to decongestion management can enable better outcomes for both patients and healthcare systems around the world.”
