Carvolix Secures €30M Structured Debt Financing from Claret Capital to Accelerate AI-Driven Cardiovascular Robotics
核心洞察
Carvolix (搜索), a French medtech company, has secured €30 million in structured debt from Claret Capital Partners (搜索) to advance its AI-driven mini-robots and biomimetic implants for interventional cardiology and stroke treatment.
The financing includes €20 million in senior secured convertible bonds and €10 million in senior secured amortising bonds with associated warrants, carrying fixed interest rates of 10–10.5%.
Proceeds will support US commercialization of the FDA-cleared TAVIpilot (搜索) AI-driven intraoperative software for TAVI procedures and continued development of the Kalios, Artus, Artedrone, and Mitrapilot portfolio.
Carvolix (搜索) (formerly Affluent Medical), a Euronext Paris-listed French commercial- and clinical-stage medical technology company, has secured €30 million (US$35 million) in structured debt financing from Claret Capital Partners (搜索), Europe's largest independent growth debt fund manager. The financing is designed to accelerate the US commercialization of its lead asset, TAVIpilot (搜索), and advance the broader pipeline of AI-driven mini-robots and biomimetic implants targeting structural heart disease (搜索) and ischemic stroke (搜索).
The funding package comprises €20 million of senior secured convertible bonds and €10 million of senior secured amortising bonds with associated warrants. The first €10 million tranche of convertible bonds has already been drawn, with subsequent tranches contingent on conditions including FDA clearance for the Tavipilot (搜索) robotic system, equity fundraising milestones, installation targets, and a debt-to-market-capitalisation cap.
"This debt financing gives us specific means directed towards the commercialization of TAVIPILOT (搜索) and preparation of industrialization across our portfolio," said Sébastien Ladet, Chief Executive Officer of Carvolix (搜索). "Claret Capital's interest in our technology and roadmap is a further validation as we work to make AI-driven robotics and biomimetic implants a new standard of care for patients facing complex cardiovascular and neurovascular procedures."
Significant Unmet Clinical Need
Structural heart diseases and stroke affect millions of patients worldwide and remain leading causes of mortality and disability. Transcatheter valve therapies and thrombectomy are complex procedures requiring advanced operator expertise, which limits access and consistent outcomes. According to data cited by the company, approximately 1.7 million patients are eligible for TAVI (Transcatheter Aortic Valve Implantation) procedures annually, yet only 17% receive treatment. In ischemic stroke (搜索), fewer than 5% of patients worldwide have access to mechanical thrombectomy.
Carvolix (搜索)'s lead technology, TAVIpilot (搜索), is an FDA-cleared, AI-driven intraoperative software designed to support interventional cardiologists during TAVI procedures by enhancing precision, consistency, and speed. The company is also developing Kalios, Artus, Artedrone, and Mitrapilot as part of its broader portfolio.
Financing Structure and Terms
The convertible and amortising bonds carry fixed interest rates of 10–10.5%, or EURIBOR plus 8.5% for amortising tranches, with long interest-only periods and maturities between 2030 and 2032. Conversion prices for the bonds are set at fixed or VWAP-based levels, with maximum dilution across all bonds and warrants capped at 8.6% of current share capital. Claret receives first-ranking security over Carvolix (搜索)'s assets and an observer seat on the board.
Warrants issued alongside the first tranche allow subscription at €3.96 per share, subject to reset mechanisms, and may be exercised over ten years with a put option enabling cashless exercise.
Financial Runway and Future Funding
Following the initial drawdown, Carvolix (搜索) expects its cash runway to extend to February 2027, with full access to remaining tranches potentially extending this to October 2027. The company estimates total funding needs of €50 million through the end of 2027, of which €20 million has already been secured via a June equity raise subscribed by Truffle Capital (搜索) and Edwards Lifesciences (搜索), plus the first debt tranche. The balance is expected to be met through remaining Claret tranches, further equity financing, potential proceeds from Edwards Lifesciences options on Kalios and Artus, and non-dilutive sources such as Bpifrance.
Investor Validation
"We are delighted to be supporting Carvolix (搜索), enabling it to drive its business forward," said Joey Mason, Life Sciences Venture Partner at Claret Capital Partners (搜索). "Carvolix is exactly the type of innovative company we like to work with — it is an exciting business with a technology portfolio which could transform the lives of people. By redefining structural heart and stroke interventions through its AI-guided procedural support and robotically enabled procedures, Carvolix has the opportunity to radically improve the lives of patients who could receive this and other life-saving interventions."
The investment follows a series of late-stage European listed and private life sciences investments by Claret, including Inventiva, Cinclus Pharma, SIS Medical, and Abivax. Carvolix (搜索) was founded by Truffle Capital (搜索) and went public as Affluent Medical in 2021, raising €25 million in an IPO with shares priced at €8.60. Shares last traded on Euronext at €6.30. Orrick, Herrington & Sutcliffe acted as legal advisor to the company.