Monday, October 2, 2023
Monday, October 2, 2023

Contact: 561.316.3330

Innoventric Ltd., Wins the Prestigious Horizon Europe Grant

Innoventric, a start-up company from Ness-Ziona, Israel, develops the unique Trillium™ technology for the treatment of Tricuspid Valve Regurgitation. The company was founded in 2017, and has rapidly progressed. Innoventric has performed over 10 implantations of the promising Trillium™ technology as part of its European first in human clinical trial. The company holds a broad patent portfolio for the Trillium™ and additional Tricuspid technologies.

In the past 15 years, there have been many attempts to develop transcatheter tricuspid valve replacements. Despite intense efforts, there is no commercially available technology or a clear solution which has been widely adopted by the clinical community. The Trillium™ presents a unique, proprietary approach for functional tricuspid valve replacement. This approach easily overcomes the traditional valve replacement main barriers by avoiding the native tricuspid valve as a fixation site. Instead, the tubular and symmetric caval veins act as the fixation sites, allowing the Trillium™ to function along-side the failing native valve rather than replacing it.

Amir Danino, Founder and CEO, said: In the last decade structural heart interventions have become extremely complex and risky. This is manifested, among else, by the duration of these procedures and by their sub-optimal technical success rates.

The Trillium™ technology is extremely simple and effective, implantation takes less than 15 minutes to perform, and the technical success rate we see in our study is 100%. No aborted procedures, no migrations, no device fractures.

The physiological results are clear and immediate – abolition of backflow leads to a significant decrease in patients’ venous pressure. This improves patient renal and hepatic function, decreases peripheral edema and improves overall quality of life.

Rafi Benary, Co-founder and Head of Business Development, said: It is quite an exciting experience to be part of a company which has come so far in such a short time, and which has managed to bring such a differentiating technology to help a large and ailing population. It is easy to sense the excitement that our technology generates in the clinical community. We are confident that the Trillium™, as well as our emerging developments will provide Cardiologists with the right tools for treating their patients. Tricuspid disease is a large and growing area and we are confident in our ability to make an impact.

Innoventric was founded, by Mr. Amir Danino, who is also the inventor of the company’s technology, Mr. Rafi Benary and Dr. David Planer, MD, Head of Interventional Cardiology at Hadassah Medical Center and the company’s CMO.

Four years ago, the company raised its seed investment from two Leading Israeli MedTech venture capitals. Seed money successfully took the company and its novel technology from concept to clinical studies, proving the Trillium’s feasibility, safety and performance in the pre-clinical and clinical settings. In addition to the seed investment, Innoventric was acknowledged for four consecutive years by the Israeli Innovation Authority, providing the company with additional funds as well as a hallmark for its technology and capabilities.

Recently, the company secured $14M through its Series A financing, this includes the prestigious Horizon Europe Grant for the sum of €2.5M. The round was led by a US based investor joined by a new European investor and all previous round participants.

Horizon Europe is a 6-year program, initiated by the European Union in 2021. The program aims to identify the top 1-2% companies/institutions in Europe and additional countries (e.g., Israel) which have groundbreaking technologies with high potential to disrupt the market and scale-up. The winning companies receive a grant that is intended to support the company growth. Innoventric was among 4,000+ applicants for the first Horizon Europe submission and after a very long and competitive process was acknowledged among the top 65 (1.5%) technology companies. The company was granted with the maximal grant support of €2.5M.

Mr. Danino referred to the current investment round and said: we are delighted to complete this financing round and are honored by the vote of confidence from our investors. Not only that we were able to raise more than we initially required, we are happy to see our new investors, along with all previous investors, participate in this round.

Last but not least, we are extremely proud of our Horizon Europe achievement, and want to thank the European Commission for acknowledging our company and technology. This prestigious prize provides us with the highest seal of excellence granted by the European Union to a technological start-up.

Medical Device News Magazinehttps://infomeddnews.com
Our publication is dedicated to bringing our readers the latest medical device news. We are proud to boast that our subscribers include medical specialists, device industry executives, investors, and other allied health professionals, as well as patients who are interested in researching various medical devices. We hope you find value in our easy-to-read publication and its overall purpose and objectives! Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

More News!

Theradaptive Awarded DOD Clinical Trial Award of up to $7.4 Million

Commenting on the award, Theradaptive CEO and founder, Luis Alvarez, Ph.D. said, "The CDMRP Clinical Trial Award comes at a pivotal time for our company as we prepare for first in human clinical trials. Veterans and service members are disproportionally likely to suffer from traumatic extremity injuries or spinal degeneration and disc injury, and currently lack efficacious treatments with very few options. We have already demonstrated superior outcomes in preclinical studies, showing the promise of our technology. With this CTA award we are one step closer to providing new and improved therapies to patients and aligning with CDMRP's strategic goal of trying to increase post-injury quality of life by halting or slowing orthopedic disease progression in servicemembers and veterans."

Lipogems® Announces 140 Independent Peer Reviewed Publications with 5 Years of Follow up in Orthopaedics

Giorgio Ninzoli, President of Lipogems International. "The gold standard for evidence is 1 year follow up and we are excited to report 5 years follow up with positive results after a single injection of MicroFat."

Study Outcomes Could Provide Insights Into New Targeted Treatments to Manage this Challenging Disease

The study aims to determine if immediate biological preservation of patient-derived chordoma tumor tissue, collected intraoperatively and implanted for serial sampling in translational research, will provide new insights into the biological weakness of the disease and contribute to developing improved treatment therapies reports NICO.

Study Validates Lunit AI as a Game-Changer, Poised to Replace One Human Reader in Breast Cancer Screening

Utilizing Lunit INSIGHT MMG, an FDA-cleared and CE-marked AI solution for mammography analysis, this research backs AI's potential to replace one human reader under Europe's double reading guideline and underscores its capacity to alleviate the strain on radiologists.

MedAlliance Announces Enrollment of over 1,660 Patients in Landmark SELUTION DeNovo Study

SELUTION DeNovo Study is the largest DEB study ever initiated, involving up to 70 participating sites across 15 countries. Patients are randomized before any vessel preparation to reflect current medical practice and to reduce bias.  The objectives of the study are to demonstrate non-inferiority at both one and five years, and superiority for target vessel failure (TVF) at five years.

By using this website you agree to accept Medical Device News Magazine Privacy Policy