Key Takeaways
- Deerfield Management raised $61.0M (Series B) from Deerfield Management.
- Sector: Biotechnology & Life Sciences.
- Geography: United States.
Analysis
Reprieve Cardiovascular, Inc., a clinical-stage firm specializing in intelligent decongestion management therapy for acute decompensated heart failure (ADHF), has successfully closed an oversubscribed $61 million Series B financing. The round was led by Deerfield Management and included participation from Arboretum Ventures, Lightstone Ventures, Sante Ventures, Genesis Capital, Rex Health Ventures, Cadence Capital, and an undisclosed strategic investor. The funding, a mix of equity investment and debt facility, aims to fuel the company's growth and support its pivotal clinical trial and key commercial readiness activities.
The company has also announced the enrollment of its first patient in the global FASTR II pivotal clinical trial. The trial aims to establish the efficacy of the Reprieve system compared to optimal diuretic therapy in patients hospitalized with ADHF. The primary objective of the trial is to determine whether the Reprieve system can decongest patients more effectively than today's standard of care. The study plans to enroll up to 400 patients across the United States and Europe, setting the stage for a future premarket approval submission in the United States.
Mark Pacyna, Chief Executive Officer of Reprieve Cardiovascular, expressed his gratitude for the strong support of their investors and shared his optimism about the company's personalized approach to decongestion management. He believes that this approach can lead to better outcomes for patients and healthcare systems globally.
David Neustaedter, Ph.D., Venture Partner at Deerfield Management and member of the Board of Directors, also expressed his enthusiasm for the company's clinical data and looked forward to supporting their progress through this crucial next stage of clinical and commercial development. Anita Watkins, Managing Director of Rex Health Ventures, emphasized the potential of the Reprieve system to reimagine the standard of care for treating ADHF and expressed their interest in strategic partnerships to enhance and accelerate this innovative therapy.
The FASTR II trial initiation follows the successful completion of the company's FASTR randomized pilot study last year, which met both primary efficacy and safety endpoints. The company strives to build upon these robust initial results through the larger FASTR II randomized pivotal study.
About Reprieve Cardiovascular, Inc., it is a privately held medical device company headquartered in Milford, Massachusetts. The company is committed to improving the lives of the more than 25 million patients globally who suffer from heart failure. Their proprietary Reprieve system intelligently manages fluid removal in patients experiencing ADHF, delivering safer, more effective, and personalized decongestion therapy.
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