Sandbox
Dublin-based medical technology developer CroíValve has successfully closed a $27 million Series B expansion round, bringing its total Series B funding to $43 million when including previously awarded development grants.
The expansion comprises $20 million in new equity, led by growth capital investor BGF, with significant participation from existing MedTech syndicates and institutional investors. An additional $7 million was secured via the European Innovation Council (EIC) Accelerator and the Irish government's Disruptive Technologies Innovation Fund (DTIF).
Addressing a Multi-Million Patient Need
CroíValve is pioneering solutions for tricuspid regurgitation (TR), a severe heart valve disorder where the tricuspid valve fails to close properly, causing blood to flow backward into the right atrium. TR affects over 4 million patients across Europe and the United States, yet the majority are deemed too high-risk for open-heart surgery, leaving them with limited treatment options.
The company's proprietary DUO Coaptation Valve System is a transcatheter device that anchors inside the heart without requiring invasive surgery. The system works by adapting to the patient’s individual leak profile, stabilizing the valve function and restoring healthy blood flow.
Funding Clinical Acceleration
The newly injected capital will be deployed to expand CroíValve’s ongoing TANDEM II clinical study across multiple sites in the EU and US. The clinical trial will generate the critical safety and efficacy data required for regulatory approval and commercialization in Western markets.
CroíValve’s progress highlights the continued global competitiveness of Ireland’s MedTech cluster, which continues to attract substantial international growth equity despite broader market headwinds.
