Congestive heart failure affects 6M people in the US, accounts for over $35B in annual spending, and over 1M hospitalizations each year. Existing therapies afford some clinical benefit, but in many cases are ineffective at relieving symptoms or reducing hospital admissions. Many patients remain severely short of breath with very limited quality of life, and despite best medical therapy, 50% of all heart failure patients die within 5 years of diagnosis.
Alleviant medical is focused on developing a novel minimally-invasive device to relieve patient symptoms, improve functional mobility and reduce the frequency of hospital admissions. Their proprietary, single-use transcatheter system enables cardiologists to decompress the heart’s left atrium which is the key driver of heart failure symptoms and hospitalizations. This treatment is expected to lift the burden of heart failure by improving patient symptoms and quality of life, reducing reliance on costly medications and decreasing hospitalization rates.
To date, Alleviant Medical has developed a fully-functional prototype and performed two large animal studies. The company is currently seeking $1.5M in seed financing to transition device development from functional prototype to finalized design; complete 8-10 large animal studies; and execute an FDA pre-submission meeting over the next 12 months.