Corify Care has recently attracted capital. The Spanish company, which develops a non-invasive cardiac mapping system, has closed a $2.7 million (€2.3 million) financing round. The deal was led by Clave Capital.
The round has also counted with the participation of the Mondragon Corporation, Bexen Cardio, and the Center for Industrial Technological Development (Cdti), through its Innvierte program, which co-invest $1.4 million (€1.2 million) along with 465 individual investors who contribute up to $1.3 million (€1.1 million) through crowdfunding rounds organized together with Capital Cell.
This investment is channeled through the Mondragon fund, controlled by the Mondragon Corporation. The corporation constitutes a group of cooperatives and companies, as is the case of Bexen Cardio, a medical company in the cardiology sector and part of the Mondragon Group cooperative that has also invested in Corify Care.
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Corify Care has managed to raise $1.3 million (€1.1 million) through Capital Cell
This investment complements the money raised through the crowdfunding platform Capital Cell through which Corify Care has been able to raise $1.3 million (€1.1 million) in two campaigns with the participation of more than 400 investors, including professionals in the field of cardiology, various family offices, and other investors with experience in the health sector.
Founded in 2019, Corify Care has created Acorys, its first device, which is poised to transform the process of treating cardiac arrhythmias. Acorys is based on technology developed in collaboration between the Hospital General Universitario Gregorio Marañón and the Itaca Institute of the Polytechnic University of Valencia. This first Corify Care device will enable personalized treatment of cardiac arrhythmias.
To date, the company has brought the product to the final design version and validated the technology with more than 300 patients. In 2020, Acorys received the European Institute of Innovation and Technology award for best innovation endowed with $59,000 (€50,000).
In addition, Corify Care has initiated pre-commercial activity of this device through agreements and projects in the framework of research with medical centers nationwide such as the Hospital Clínic de Barcelona. The round will enable Acorys to complete clinical validation, obtain regulatory approval in Europe and the United States in 2023, and launch the device on the domestic and international markets.
The company expects to obtain regulatory approval in Europe and the United States in 2023
Andreu Climent, CEO of the company, explained that “we are excited to be able to complete our ambitious development plan and finalize clinical validation and go to market” and adds that “we are confident that our device will be able to help physicians optimize both effectiveness and efficiency when performing complex procedures to treat cardiac rhythm disturbances”.
Worldwide, 33.5 million people suffer from cardiac arrhythmia, a figure that will more than double by 2050. In the European Union, 500,000 people die each year due to arrhythmia. With the aging of the population, it is estimated that cardiac arrhythmia will affect more than 50 million people by 2050.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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