MINNEAPOLIS--(BUSINESS WIRE)--Minnesota based Laplace Interventional, a medical device company developing a transcatheter tricuspid valve technology, announced today that it has closed on its Series A financing led by a non-disclosed major strategic investor along with a significant investment from ShangBay Capital, an early stage medical device investor as well as other investors including Mayo Clinic. The $7.9M Series A financing round will fund Laplace Interventional towards achieving its preclinical milestones. The company also announced the addition of two Directors to its Board including William Dai, Founding Managing Partner at ShangBay Capital.
Laplace Interventional’s device aims to offer an increase in life expectancy and an improvement to the quality of life to several patients worldwide diagnosed with Tricuspid Regurgitation (TR). Laplace Interventional is developing a prosthetic valve that shall be delivered through a minimally invasive procedure not requiring an open-heart surgery and thereby reducing future complications in patients.
"I am very excited to partner with our strategic investor and ShangBay Capital in further developing Laplace’s technology," said Ramji Iyer, Founder and CEO of Laplace Interventional. "Together we will pursue and achieve our primary objective to significantly improve the standard of care for patients suffering from tricuspid regurgitation."
“We are very excited about Laplace’s novel transcatheter replacement technology and its strong potential to improve the outcomes of patients with tricuspid regurgitation,” said William Dai from ShangBay Capital.
Caution: Laplace Interventional’s device is in the early stage of development phase and is NOT approved or cleared by the FDA or any other regulatory body in any region of the world.
