FineHeart, a clinical stage medical device company based in Bordeaux, France, has secured $83.0 million in new funding. This significant capital injection will support the continued development and clinical advancement of its innovative product, FLOWMAKER®, designed to treat advanced heart failure.
FLOWMAKER® is positioned as the first fully intraventricular, wireless flow accelerator that provides physiological support synchronized with the heart's natural contractions. This miniaturized device, approximately 10 cm in size, is adjustable to patient needs and recharges via a wireless transcutaneous energy transfer system, eliminating the need for an external driveline. It is implanted using a minimally invasive, beating-heart procedure. FineHeart aims to address a substantial market, initially targeting 50,000 of the most severe heart failure patients, a segment estimated to be worth over US$5 billion. The company holds an international portfolio of 147 patents across 25 different families.
The funding round saw participation from a diverse group of public, private, industrial, and independent investors, including French groups Lauak and Doliam, FineHeart Founders, and investment funds such as Aquiti, Broadview Ventures, Galia, Irdi, M Capital, NACO, UI Investment, and Verve Ventures. Additional financing was provided by the European Union (EIC), Bpifrance, and the Nouvelle Aquitaine and Région Centre regions. This capital is expected to accelerate the clinical validation and commercialization pathway for FLOWMAKER®, bringing the device closer to patients in need.
Founded by CEO Arnaud Mascarell and a team of renowned cardiac specialists, including Dr. Stephane Garrigue and Dr. Philippe Ritter, FineHeart is focused on transforming the treatment landscape for advanced heart failure. The company's successful fundraising underscores investor confidence in its technology and its potential to significantly improve outcomes for hundreds of thousands of patients annually. FineHeart is poised to advance its mission of providing a less invasive and more physiological solution for a critical medical condition.
