Non-profit paediatric initiative CobiCure Medical Technologies (CobiCure MedTech) has granted $2m funding to Texas-based PolyVascular to advance the development of a paediatric heart valve.
PolyVascular is engaged in the development of next-generation non-surgical heart valve replacement for young children with congenital heart disease.
CobiCure, which is part of the Advancium Health Network, intends to provide strategic support and resources to the medical device company in addition to the funding.
These will be used to further advance the development of the PolyVascular’s polymer heart valve towards human clinical readiness for children born with congenital heart defects.
CobiCure strategy and development director Emma Moran said: “CobiCure’s mission, strategic ecosystem, and critical resources are a perfect match for helping PolyVascular realise their goal of eliminating invasive surgeries in children with congenital heart disease.
“Our commitment to supporting life-changing medical devices like PolyVascular’s will fill gaps in paediatric MedTech and we look forward to the positive impact it could have on children’s lives.”
Previously, PolyVascular secured $3.5m in grants from the National Institutes of Health (NIH) Small Business Innovation Research (SBIR) Phase 1 and Phase 2 and $750,000 from private funding.
The company’s non-surgical valve uses a polymer to change faulty heart valves, thereby minimising the need for multiple surgeries and enhancing the quality of life of patients.
PolyVascular founder Henri Justino said: “This investment from CobiCure MedTech is a testament to the progress our team has made and acknowledges the need for better solutions for children with congenital heart disease.
“We’re grateful for the trust placed in our team by CobiCure. With their support, we are one step closer to reaching this vulnerable population to improve their quality of life and offer parents greater peace of mind.”
