Sofinnova et al. in €35m series-C round for CorWave

Financière Arbevel, Singaporean family office M&L Healthcare, and the European Commission joined as new investors.

The EC deployed €15m in equity via its €3.6bn EIC Fund, marking its first investment from the vehicle.

CorWave, which has so far raised €80m in equity and non-dilutive funding, will use the proceeds to finalise the development of its product, build its manufacturing infrastructure, complete regulatory testing required to conduct human implants, and start its clinical trials.

Company
Founded in 2012 and based in Clichy, CorWave is working on developing cardiac assist devices including a new implantable heart pump. It employs more than 50 staff.

People
CorWave – Louis de Lillers (CEO); Zina Hamoumi (CFO).
Sofinnova Partners – Gérard Hascoët (partner).

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