Swedish Startup’s Major Leap in Heart Failure Management: $4M Funding Triumph

Acorai's Breakthrough Device Set to Revolutionize Heart Failure Care with Fresh Funding and Clinical Studies

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231125 under Bjärehus magasins smygöppning med julmarknad den 25 november 2023 i Helsingborg. Foto: Mathilda Ahlberg / BILDBYRÅN / kod MA / MA0564

Key Takeaways:

  • Significant Funding Milestone: Acorai secures over $4.5m in funding, fueling its clinical studies and moving towards regulatory approval.
  • Clinical Advancements: With the CAPTURE-HF global clinical study underway, Acorai aims to demonstrate the efficacy of its innovative heart failure monitoring system.
  • Strategic Growth and Market Access: Acorai is gearing up for US market access by 2025, following the completion of clinical testing and a series seed equity round.

Innovative Heart Failure Solutions on the Horizon

Helsingborg, Sweden-based medical device startup Acorai has made a significant stride in heart failure management, announcing the closure of an oversubscribed series seed equity round. The company has successfully secured more than $4.5 million to finance its clinical studies and advance towards regulatory approval. This achievement follows a €2.3 million non-dilutive grant and €10 million in future equity financing from the European Innovation Council (EIC).

Partnerships and Investor Confidence

The funding round, led by Solardis Health Ventures, saw participation from KHP Ventures, Carma Fund, and other US investors, along with substantial follow-on investment from existing investors across Sweden and the EU. This diverse investor base reflects the widespread confidence in Acorai’s potential to revolutionize heart failure management.

Clinical Studies and FDA Breakthrough Designation

In August 2023, Acorai’s monitoring system was designated as a Breakthrough Device by the US FDA, propelling the startup into the global clinical study phase with CAPTURE-HF. The study, set to conclude in 2024, involves 1200 patients and aims to validate the performance of Acorai’s non-invasive intracardiac pressure monitoring device.

Dr. Andrew J Sauer, Chief Clinical Advisor to Acorai, emphasized the significance of this development. “With CAPTURE-HF, the team has really focused on the science … This funding further validates that Acorai is uniquely positioned to change how patients with heart failure are managed,” he stated.

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The Road to Series A and Market Access

Led by a team of seasoned professionals including Filip Peters, Jakob Gelberg, Kasper Bourdette, and Matthew Mace, Acorai is targeting US market access by 2025. The focus now shifts to completing clinical testing and gearing up for a larger capital raise ahead of a commercial launch in 2025.

Presence and Engagement in Key Conferences

Acorai continues to maintain a strong presence in relevant conferences, with upcoming appearances at THT in Boston, ACC in Atlanta, VIVE in Los Angeles, and the LSI Emerging Medtech conference in Dana Point. These events offer critical platforms for Acorai’s leaders to present their breakthrough technology and connect with potential partners and investors.

About Acorai and Its Vision

Acorai is developing a groundbreaking non-invasive intracardiac pressure monitoring device to improve heart failure management for over 64 million patients globally. The device, built upon the patented SAVE Sensor System, combines proprietary hardware with machine learning to offer a new standard in heart failure management.

Backed by industry veterans with experiences from GE Healthcare, Verily, Abbott, and clinical partnerships with leading hospitals, Acorai stands at the forefront of transforming heart failure care.

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