Helsingborg-based startup Acorai, a trailblazer in medical device manufacturing, has successfully closed an oversubscribed €4.1 million seed round, marking a significant milestone in its mission to redefine acute care settings for heart failure patients. Solardis Health Ventures led the funding round, with participation from KHP Ventures, Carma Fund, and additional support from US investors. The round also saw substantial follow-on investments from existing backers across Sweden and the EU.
The secured capital will be instrumental in advancing Acorai’s clinical studies and progressing towards regulatory approval. Building on €2.3 million in non-dilutive grant funding and a future equity financing commitment of €10 million from the European Innovation Council (EIC), Acorai is poised to make significant strides in reshaping heart failure care.
Having earned the prestigious designation of a Breakthrough Device by the US FDA in August 2023, Acorai swiftly initiated its global clinical study, CAPTURE-HF. The study, set to conclude in 2024, aims to showcase the performance of Acorai’s monitoring system through a catheterization study involving 1200 patients.
Dr. Andrew J Sauer, Chief Clinical Advisor to Acorai, lauded the company’s dedication to scientific excellence in developing the CAPTURE-HF study. He stated, “This funding further validates that Acorai is uniquely positioned to change the paradigm of how patients with heart failure are managed in traditional and acute care settings.” Dr. Sauer emphasized Acorai’s recognition and effective addressing of the unmet needs within acute heart failure workflows, marking the company’s distinctive approach in the sector.
Founded in 2019 by a visionary team comprising Filip Peters, Jakob Gelberg, Kasper Bourdette, and Matthew Mace, Acorai is set to complete its study in 2024. Actively engaging with regulators, the company aims to secure market access in the US by 2025.
The immediate focus for Acorai is the successful completion of clinical testing, paving the way for a larger capital raise in preparation for a commercial launch in 2025. The company is committed to maintaining a strong presence at prominent conferences throughout 2024, with key appearances at THT in Boston and ACC in Atlanta. CEO Filip Peters and CSO Matthew Mace are slated to present at VIVE in Los Angeles in February and the LSI Emerging Medtech conference in Dana Point in March, underscoring Acorai’s commitment to innovation and collaboration in the medical technology space.