Dublin — CroíValve, an Irish medical device company developing a next-generation treatment for tricuspid regurgitation (TR), has been awarded funding from the European Innovation Council (EIC) Accelerator, part of the European Union’s Horizon Europe 2021–2027 Research and Innovation Programme.
The award includes a €2.5 million grant and a €10 million equity investment as part of CroíValve’s upcoming financing round. The company was selected from a highly competitive pool of 959 applicants, with only 40 companies across 16 countries receiving support in this funding cycle. CroíValve also noted its pride in being among the nearly one-third of selected companies led by women.
“Securing EIC funding is instrumental in expanding the clinical validation of the DUO™ System,” said Lucy O’Keeffe, CEO of CroíValve. “There is a significant unmet need for patients who are not candidates for first-generation transcatheter tricuspid devices. Our mission is to innovate a better way to treat this disease, and we’re honored to have the support of the EIC.”
Tricuspid regurgitation affects over 4 million people in Europe and the U.S. The condition occurs when the tricuspid valve fails to close properly, allowing blood to flow backward into the heart. It is associated with debilitating symptoms, high morbidity, and reduced life expectancy, yet current treatment options remain limited.
CroíValve’s DUO™ Transcatheter Tricuspid System is a minimally invasive device designed to work in tandem with the native tricuspid valve. It restores valve function without removing or significantly altering the patient’s anatomy. The system uses a novel anchoring mechanism to avoid contact with sensitive right heart structures, minimizing the risk of complications.
The DUO™ System is engineered to treat a wide range of anatomies and simplify the procedure by reducing dependence on complex imaging and lengthy learning curves. It is currently being evaluated in the TANDEM II Study, a multicenter early feasibility trial involving sites in Poland and the United States.
With the support of the EIC Accelerator funding, CroíValve plans to advance the DUO™ System through further clinical investigation and development, moving closer to providing a much-needed option for patients suffering from severe tricuspid regurgitation.
