Novostia SA, a clinical stage company developing a breakthrough artificial heart valve, founded in April 2017, in Neuchâtel (Switzerland) has just raised an additional 2.5 million euros. The total funds raised since its foundation amount to just over 15 million included public subsidies from the European Union and the Canton of Vaud.
The Series A round that enabled the launch of First-in-Human (FIH) has just been closed. Series B will be opened this summer, after re-evaluation of the company. This Series B will be used to complete the Pilot Study and launch in its wake the Pivotal Study which will enroll around 60 patients for the former and 500 for the latter. These studies will enable Novostia to obtain the necessary approvals (CE mark and Pre-Market Approval) to enter the market.
Investors interested in taking an equity stake in or providing a convertible loan to Novostia are welcome. The Series B will certainly be broken down into two tranches, 1 and 2, for total amounts of 10 and 30 million, respectively.
