Galway, Ireland-based 4Tech has raised $29 million in a Series B financing round, which will be used to gain European approval of its TriCinch device used to treat Tricuspid Regurgitation (TR).
TR is a condition in which blood “backflows” into the right side of the heart. It is an age-related, difficult-to-manage condition that is typically treated with diuretic medication. TR can be treated with surgery, but it is very risky. The significant complications that come with this condition lead to frequent re-hospitalization and many times end-stage dialysis, making it very costly.
4Tech’s TriCinch system is the first transcatheter device created to treat TR, and it is designed to repair the tricuspid heart valve in a simple procedure.
The financing round was led by Valiance and RMM, with participation from NeoMed Management and a group of Business Angels with a strong track record in Aortic and Mitral Structural Heart Disease.
Photo: Screenshot via 4Tech
