The Series A round that pave the way to the launch of First-in-Human (FIH) has just been closed. Series B will be opened this summer, after re-evaluation of the company.
Novostia is in the process of increasing its Share Capital to CHF 203,000 with a new injection of funds of one million. This new investment is linked to the reaching of a strategic milestone: the confirmation of the safety and performance of the TRIFLO valve on animals.
The private and public (EC/H2020) funds raised since the foundation of the company in April 2017 now amount to about 7.5 million. Subsidies from the SPEI and the Biopôle are not included in these funds. Although modest, they have nevertheless enabled the recruitment of key employees, the launch of valve experiments and the participation in international conferences that have all contributed in a positive way to the progress of the TRIFLO project.
Two new fundraisings are open: the first one of 2 million for the one-year follow-up of the first 10 patients who will be implanted with our valve in less than 12 months; the second one of 10 million to launch the pilot study as soon as possible (50 patients, 3 valve sizes and 3/4 centres).
Dr Iman Borazjani's group (Texas A&M) presented the results of the fluid dynamic simulations at the 75th Annual Meeting of the Division of Fluid Dynamics, Indianapolis. The abstract entitled "Computational assessment of the hemodynamics and platelet activation potential of a Trileaflet Mechanical Heart Valve and their comparison with a Bioprosthetic and a Bileaflet Mechanical Heart Valve" brings proofs of the superiority of the TRIFLO valve over commercially available bi-leaflet mechanical valves.