Reprieve Cardiovascular Emerges from Stealth Mode after $42 Million Series A Financing to Bring Intelligent Fluid Management to Heart Failure Patients

2024-02-20

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– Financing Enables Company to Advance Current and Future Clinical Programs – – Heart Failure Is Common and Costly: Over One Million Patients a Year Are Admitted with Primary Heart Failure Diagnoses in the U.S. – MILFORD, Mass.--(BUSINESS WIRE)-- Reprieve Cardiovascular, Inc., a development stage company focused on pioneering an intelligent automated diuretic and fluid management approach for acute decompensated heart failure (ADHF) treatment, today announced it has raised a total of $42 million in series A financing. The total round was co-led by Lightstone Ventures and Sante Ventures and joined by Deerfield Management, Genesis Capital, and Arboretum Ventures. The funding will advance the Company’s clinical and development programs, including the ongoing FASTR trial and its upcoming pivotal trial. Over 6.7M Americans are living with heart failure today1. ADHF is the sudden or gradual onset of the signs or symptoms of heart failure (difficulty breathing, leg or feet swelling, and fatigue) requiring unplanned office visits, emergency room visits, or hospitalizations. Specifically, ADHF is caused by a rapid onset of fluid volume overload. Over one million patients a year are admitted with a primary heart failure diagnosis2 in the U.S., and millions more around the world, with an average hospital stay of more than 5 days3. Unfortunately, nearly 1 in 4 patients are readmitted to the hospital within 30 days to re-treat fluid volume overload, and approximately half are back within 6 months4. “Today, the standard of care for heart failure patient fluid removal is diuretics. Originally approved 60 years ago, diuretics remain the primary treatment option but can be difficult to administer optimally without real-time patient information,” said Mark Pacyna, chief executive officer of Reprieve Cardiovascular. Intended to personalize decongestion management and safely, quickly, and completely remove excess fluid to improve patient outcomes and prevent hospital readmissions, the Reprieve System monitors physiological parameters such as urine output to deliver personalized diuretic dosing and fluid replacement for patients with ADHF. Pacyna continued, “Reprieve Cardiovascular is bringing intelligent decongestion management to heart failure patients. The Reprieve System provides physicians and care teams added visibility and control throughout treatment.” Company Expands Management Team During the past three years, Reprieve Cardiovascular has grown significantly. Today, the leadership team is composed of domain experts in product development, regulatory, clinical, and commercial strategy who bring decades of medical device and cardiovascular experience and a track record of success in developing life-changing healthcare solutions. Leading Reprieve is Chief Executive Officer Mark Pacyna, who joined Reprieve in May 2021. Before Reprieve, Mark spent 16 years with Medtronic in various leadership positions. Most recently, Mark served as the Vice President & General Manager of Medtronic’s Peripheral Vascular Business. “We’re excited to share the Reprieve story as the company emerges from stealth mode ahead of their pivotal trial,” said Jan Garfinkle, founding and managing partner of Arboretum Ventures. “The series A funding reinforces our belief in the Reprieve team, and in the need for a new technology that can improve the lives of patients suffering from acute decompensated heart failure around the world.” About Reprieve Cardiovascular, Inc. Reprieve Cardiovascular, Inc. is developing innovative and groundbreaking therapies that aim to improve the lives of more than 25 million heart failure patients around the world. Reprieve is bringing intelligence to decongestion management to safely accelerate fluid removal for heart failure patients. In 2022, Reprieve initiated the FASTR Trial (pilot study) to compare decongestive therapy administered by the Reprieve Decongestion Management System to Optimal Diuretic Therapy in the treatment of patients diagnosed with acute decompensated heart failure. Reprieve is a privately held medical device company, headquartered in Milford, Massachusetts, USA. About the FASTR Trial The Company is currently conducting the FASTR Trial (Fluid management of Acute decompensated heart failure Subjects Treated with Reprieve system). The objective of this pilot study is to determine if decongestive therapy administered by the Reprieve System can more efficiently decongest ADHF patients as compared to standard-of-care diuretic therapy. This trial is enrolling patients in the United States and Europe. References Tsao, C. W., Aday, A. W., Almarzooq, Z. I., Anderson, C. A. M., Arora, P., Avery, C. L., Baker-Smith, C. M., Beaton, A. Z., Boehme, A. K., Buxton, A. E., Commodore-Mensah, Y., Elkind, M. S. V., Evenson, K. R., Eze-Nliam, C., Fugar, S., Generoso, G., Heard, D. G., Hiremath, S., Ho, J. E., & Kalani, R. (2023). Heart Disease and Stroke Statistics—2023 Update: A Report From the American Heart Association. Circulation, 147(8). Kuno T, Briasoulis A, Tsugawa Y. National Trends in Heart Failure Hospitalization and Readmissions Associated With Policy Changes. JAMA Cardiol. 2022;7(1):114. doi:10.1001/jamacardio.2021.4416 Akintoye, E., Briasoulis, A., Egbe, A., Dunlay, S. M., Kushwaha, S., Levine, D., Afonso, L., Mozaffarian, D., & Weinberger, J. (2017). National Trends in Admission and In‐Hospital Mortality of Patients With Heart Failure in the United States (2001–2014). Journal of the American Heart Association: Cardiovascular and Cerebrovascular Disease, 6(12). Khan, M. S., Sreenivasan, J., Lateef, N., Abougergi, M. S., Greene, S. J., Ahmad, T., Anker, S. D., Fonarow, G. C., & Butler, J. (2021). Trends in 30- and 90-Day Readmission Rates for Heart Failure. Circulation: Heart Failure, 14(4).