[Funding alert] Swedish Acorai Secures €4.1 Million in Funding

With this money, which comes from a €2.3 million non-dilutive grant and €10 million in future equity financing from the European Innovation Council (EIC), the company will be able to finance its clinical investigations and proceed toward regulatory approval.

Read also - Limburg-based Foodtech Company Verdify Raises €2.4Million in Funding

Acorai began its international clinical research, CAPTURE-HF, after being named a Breakthrough Device by the US FDA in August 2023. The company hopes to have its monitoring system prepared for clinical usage by then. The study, which will come to an end in 2024, intends to use a catheterization study involving 1,200 patients to illustrate the device's functionality.

The Chief Clinical Advisor to Acorai, Dr Andrew J Sauer, commented: “With CAPTURE-HF, the team has really focused on the science to enable the fullest use of this device when it hits the market. This funding further validates that Acorai is a uniquely positioned company to change the paradigm of how patients with heart failure are managed in traditional and acute care settings. To my knowledge, this is the only company that has recognized and is adequately addressing the glaringly obvious unmet need within the acute heart failure workflow. Raising capital in this environment is tougher than it was even 18 months ago, so it’s a huge achievement of the management team and an example of how truly scalable this platform could be in the right hands … congrats”

Right present, the main goal is to finish clinical testing in order to generate more money in advance of the commercial debut in 2025. Through 2024, Acorai will still be present at conferences. CSO Matthew Mace and CEO Filip Peters will be traveling to THT, Boston, and ACC, Atlanta to speak at VIVE in Los Angeles in February and the LSI Emerging Medtech conference in Dana Point in March.

Read also -  Netherlands-based Tidal Control Secures €500K in a Pre-Seed Round Funding

About Acorai

The team, consisting of Filip Peters, Jakob Gelberg, Kasper Bourdette, and Matthew Mace, was founded in 2019. They aim to finish their study by 2024 and gain access to the US market by 2025 by actively interacting with regulators.

Read also - Amsterdam-based Send AI Raises €2.2Million in a Pre-Seed Round Funding

In an effort to lower hospital stays and readmissions, Acorai is creating a device for non-invasive intracardiac pressure monitoring (ICPM)-based heart failure care.