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History
2023: $18 million investment
On March 29, 2023, BiVacor, an artificial heart developer, announced an investment of $18 million. The money will be used to fund ongoing research and development, as well as to organize comprehensive tests of products. In addition, personnel changes are planned - new specialists will be accepted for key leadership positions.
BiVacor artificial heart is designed for people with severe biventricular heart failure. The solution is based on the technology of a rotary blood pump. The design includes left and right blades located on a common rotor and forming a single moving part: a double-sided impeller on a magnetic suspension. This design minimizes mechanical wear, making the artificial heart more durable, reliable and biocompatible. In addition, contactless magnetic suspension provides effective blood flow.
BiVacor's new funding round has been spearheaded by Cormorant Asset Management and OneVentures: The allocation is through the OneVentures Healthcare Fund III. The money will help develop a fully artificial next-generation heart that could serve as a transition solution for those awaiting a heart transplant, or even become a long-term alternative to a heart transplant.
 | We are extremely grateful for the continued support from our core investors. With this funding, we will be able to double the size of our team, as well as attract new specialists to research and development. We are well positioned to expand preclinical activities and are aiming to conduct the first human trial in 2024, "said BiVacor CEO (and former Abiomed executive) Dr Thomas Vassiliades[1] |  |
Notes
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