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CVRx Funding Boost Will Sustain Barostim Heart Failure Device To US Launch

 
• By Ashley Yeo

US heart failure device manufacturer CVRx has scored a double hit by securing $113 million in funding in this flat investor climate and by being one of the first into the US FDA’s EAP, designed to help innovative technologies get faster access to market. CVRx’s much larger rivals are doubtless watching events with an uneasy mix of interest and concern.

Privately-held CVRx Inc., developer of the Barostim Neo minimally invasive implantable system with separate indications for heart failure and resistant hypertension, has scored a major coup in securing $113 million in new funding in what remains a difficult market for medical device investment. The financing was led by Johnson & Johnson Development Corp., the venture arm of Johnson & Johnson.

Of equal significance, CVRx has also this year become one of the first beneficiaries of the US FDA’s Expedited Access Pathway (EAP) program

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