Alleviant Medical Secures $75M in Funding with Receives A FDA IDE Approval

Alleviant Medical

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Alleviant Medical, Inc., a privately held medical device company working on a no-implant interatrial shunt for heart failure, announced today the completion of a $75 million equity financing led by S3 Ventures and RiverVest Venture Partners. In this new financing round, S3 Ventures and RiverVest Venture Partners are joined by Gilmartin Capital, ShangBay Capital, and another unnamed strategic investor, as well as investors Vensana Capital, Longview Ventures, TMC Venture Fund, and a strategic investor.

This funding will be used to support the company’s global pivotal trial, ALLAY-HF. ALLAY-HF is intended to demonstrate the Alleviant System’s safety and efficacy in the treatment of heart failure via left atrial decompression.

“Alleviant’s mission is to bring a safe, effective no-implant treatment option to millions of patients suffering from heart failure, and this highly informed study is a critical step forward,” said Adam Berman, CEO of Alleviant Medical. “We could not ask for a stronger group of institutional and strategic healthcare investors as we accelerate our global efforts to bring this technology to patients.”

To date, the Alleviant System, which was granted an Investigational Device Exemption (IDE) by the United States Food and Drug Administration (FDA) in November 2022, has demonstrated significant clinical improvement in studies involving 38 heart failure patients. Shunt durability was confirmed in these studies after six months, and sustained improvement was observed after 12 months.

Alleviant Medical, Inc. is a medical device company developing a minimally invasive, implant-free device under clinical investigation for the treatment of chronic heart failure. The Alleviant System was granted U.S. FDA Breakthrough Device Designation in 2021. Headquartered in Austin, Texas, Alleviant is a privately held company backed by S3 Ventures, RiverVest Venture Partners, Vensana Capital, Broadview and Longview Ventures, Gilmartin Capital, ShangBay Capital, TMC Venture Fund, and undisclosed strategic investors.

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