CorVent Medical Closes $4.5M Seed Financing

Section 2

Northwell Health Sends Vaccinators to Ecuador

At the request of Ecuador’s Minster of Health, and for the first time since the start of the pandemic, the Northwell Health CGH team traveled outside of the U.S. on June 13 to help get shots in arms relieve overburdened health care workers in the South American country who have been working around the clock in the race to vaccinate their population.

Fusion Marketplace Changes Healthcare Traveler Experience

Fusion Marketplace is a traveler-first driven platform giving healthcare professionals the power to make decisions in their careers that they haven't been able to in the past.

CorVent Medical, a Coridea portfolio company, announced today the closing of a $4.5M seed financing round to support the commercialization of the first single-use, critical care ventilator that will enable rapid and affordable deployment with superior infection control. The financing round is led by the prominent European life sciences venture capital firm Sofinnova Partners with participation from Redmile Group, Exor Seeds, Genesis Medtech Group, The Deerfield Foundation, The Pagliuca Family Office, and Accel Founder Jim Swartz. Funds will be used to finalize regulatory filings under the U.S. Food and Drug Administration’s Emergency Use Authorization (EUA) Act, to upon approval launch the CorVent™ Single-Use Ventilator, and to support future development of next-generation lifesaving devices for respiratory insufficiency.

“The COVID-19 pandemic has highlighted a significant need for emergency-use ventilators that can be rapidly deployed to enable on-demand, critical care ventilation,” stated Antoine Papiernik, Managing Partner at Sofinnova Partners. “CorVent has created an elegant yet simple, single-use solution for emergency preparedness that can be stored for long periods of time without the expense and delay of complicated service contracts. We are proud to partner with this proven team to bring a much-needed solution to market.”

The CorVent™ Single-Use Ventilator is designed to meet each patient’s respiratory needs in an easy plug and play set-up with built-in safeguards. The single-patient design provides superior infection control with integrated filters to protect healthcare providers, staff and patients. Delivering critical care ventilation at a moment’s notice, the CorVent™ Single-Use Ventilator complements existing products during hospital shortages or in underserved markets.

“Our product is unique in that it is the only single-use, critical care ventilator that extends capacity when needed most,” commented Mark Gelfand, CEO of CorVent. “Whether it is in response to a pandemic or to address an underserved market, our single-use ventilator enables hospitals, states, and countries to cost-effectively and efficiently address respiratory insufficiency so healthcare providers can immediately focus on critical patient needs.”

spot_img

DON'T MISS

Hyperfine Adds Medtech Leader and Visionary Scott Huennekens as Executive Chairman

Mr. Huennekens’ public boards include Chairman of Acutus Medical (IPO August 2020); Chairman of Envista (IPO September 2019); and board member of Nuvasive. He also serves as a board member and past Chairman of the Medical Device Manufacturer’s Association (MDMA).

One Drop Reports Carrie Siragusa, CPA Appointed VP of Commercial Strategy, Biosensor

Formerly Head of Innovation and Diabetes Portfolio at Sanofi, Siragusa will be part of a team bringing a multi-analyte dermal sensor (biosensor) with continuous health sensing capabilities to market with a mission to provide broader access to continuous glucose monitoring.

Barbara Moorhouse Appointed as Medica Non-Executive Director

Barbara has extensive business and management experience in the private, public, and regulated sectors.

Subscribe to Medical Device News Magazine here.

Related Articles