Marie Thibault, a medtech analyst at BTIG, called attention to Ancora Heart in a report issued September 9, and it's easy to see why Ancora landed on her radar.
The Santa Clara, CA-based company's AccuCinch Ventricular Restoration System is a completely transcatheter, device-based therapy designed to treat the enlarged left ventricle and improve structure and function in heart failure patients with reduced ejection fraction (HFrEF). The system is intended for symptomatic patients to augment medication or other treatment options or, for patients with more debilitating conditions, a less invasive treatment option compared to a left ventricle assist device (LVAD) or a heart transplant.
In June, the Santa Clara, CA-based company raised $80 million in an equity financing round to support its CORCINCH-HF pivotal trial, which began enrolling patients in January.
If successful, the pivotal trial will support the company's FDA premarket approval submission for the AccuCinch System.
During the AccuCinch procedure, an implant is placed into the mid-left ventricular wall, the implant is then cinched. Once cinched, the implant is intended to reduce the size of the left ventricle, as well as support and strengthen the heart wall to help improve left ventricular function. The AccuCinch System is designed to provide extra stability and support to the left ventricular wall. This may lower stress on the heart and allow improved functional capacity and quality of life for patients.
“Previously collected data on early feasibility implants suggests that the AccuCinch System may afford significant clinical benefits to patients suffering from heart failure with reduced ejection fraction,” said Jeff Closs, president and CEO of Ancora Heart. “We anticipate that the data from this study will confirm and expand upon these early findings and enable us to ultimately provide an important innovation that may halt or even reverse the progression of heart failure in many patients.”