Supira Medical, a clinical-stage portfolio company of Shifamed, announced today it has successfully completed an oversubscribed Series E financing round, raising $120 million to accelerate development of its innovative percutaneous ventricular assist device (pVAD) technology. The funding will support expanded clinical programs targeting both high-risk percutaneous coronary intervention (HRPCI) and cardiogenic shock (CS) applications.
The financing round was led by new investors Novo Holdings and Qatar Investment Authority (QIA), with participation from two undisclosed strategic investors. Existing investors including Cormorant Asset Management, The Capital Partnership, 415 Capital, AMED Ventures, PA MedTech VC fund, and Unorthodox Ventures also contributed to the round.
"We are grateful for the continued confidence and support from our current investors and delighted to welcome new world-class investors to this financing consortium," said Dr. Nitin Salunke, President and CEO of Supira Medical. "This significant capital raise underscores the team's tremendous progress as we look forward to exciting opportunities ahead of us to improve clinical outcomes for both HRPCI and cardiogenic shock patients."
Clinical Progress and Development Plans
Alongside the funding announcement, Supira revealed the completion of enrollment in its U.S. SUPPORT I Early Feasibility Study (EFS). The prospective, single-arm clinical study enrolled 15 patients across four clinical sites to evaluate the safety and feasibility of Supira's pVAD in patients undergoing high-risk percutaneous coronary intervention.
The new capital will fund the company's SUPPORT II U.S. Pivotal Study for HRPCI, which will be used to seek FDA PMA approval. To date, the Supira System has benefited 85 HRPCI patients, according to company data.
Dr. Christopher Shen, Partner at Novo Holdings US, who joins Supira's Board of Directors, highlighted the significant unmet clinical need: "We believe there is a massive unmet need for next-generation ventricular support devices to promote myocardial recovery and improve peripheral organ perfusion in HRPCI and CS patients. The Supira team has built a strong clinical foundation to further validate their advanced low-profile, high flow technology platform in two important segments of interventional heart failure."
Addressing Critical Cardiac Support Needs
Percutaneous ventricular assist devices play a crucial role in supporting cardiovascular function during high-risk coronary interventions, particularly in patients with complex coronary anatomy, compromised hemodynamics, and multiple comorbidities.
These devices are also vital in managing cardiogenic shock, a high-mortality condition where the heart is too weak to pump sufficient blood to vital organs, typically resulting from a heart attack or heart failure. Current treatment options for these conditions have limitations in terms of device profile, ease of use, and hemodynamic support capabilities.
Supira's technology aims to address these limitations with its next-generation pVAD system, though the company notes that the Supira System remains an investigational device not yet approved for sale in the U.S. or elsewhere globally.
Market Positioning and Financial Advisors
The percutaneous cardiac support device market has seen significant growth and investment in recent years as interventional cardiologists seek better tools to support high-risk patients. Supira's substantial funding round positions the company competitively in this expanding field.
Piper Sandler served as exclusive financial advisor for the transaction, with Sidley Austin LLP providing legal counsel to Supira Medical.
Founded as part of the Shifamed medical innovation hub, Supira Medical focuses specifically on developing advanced pVAD technology for high-risk patients undergoing interventional procedures and those experiencing cardiogenic shock. The company's progress represents a significant step forward in addressing critical needs in interventional cardiology and heart failure management.
