Novostia secures CHF 5.6 million to accelerate the development of its heart valve
24 September 2024
Novostia has raised CHF 5.6 million in a new financing round and appointed Soad El Ghazouani as CEO to accelerate the development of its TRIFLO heart valve technology.
Novostia, a Lausanne-based medtech developing a breakthrough artificial heart valve, has secured an additional CHF 5.6 million in financing. This financial boost will allow the company to advance its clinical trials and prepare for its next financing phase. Novostia’s TRIFLO valve, currently being tested in the ongoing PILATUS clinical trial, aims to transform the treatment of aortic and mitral valve disease by improving patient outcomes and reducing healthcare costs.
The latest funding comes at a pivotal time for Novostia as the company prepares to present early clinical trial results at the European Association for Cardio-Thoracic Surgery (EACTS) conference in Lisbon this October. The TRIFLO valve is designed to reduce the need for lifelong anticoagulation therapy and improve patients’ quality of life through improved blood flow dynamics and durability.
In addition to the financing, Novostia announced a change in leadership with the appointment of Soad El Ghazouani as CEO, succeeding Alain Barbal. With over 25 years of experience in the cardiovascular sector, including as co-founder and CEO of T-Heart, Soad brings a wealth of knowledge in leading innovative medical device companies through rapid growth. Her expertise is expected to guide Novostia through the next stages of clinical and commercial development.
“We are immensely grateful to our investors and partners for their unwavering support,” said Alexander Valkenberg, Chairman of Novostia. “The successful fundraising and Soad’s leadership mark a pivotal moment as we continue our mission to improve patient outcomes.”