Ventracor raises Aus$34 million for LVAD (left ventricular assist device) development:
This article was originally published in Clinica
Sydney, Australia firm Ventracor has raised Aus$33.75m (US$21.6m) to help fund trials of its left ventricular assist device (LVAD), VentrAssist. The company, which had existing cash of Aus$10.5m, says the financing will cover the completion of its 10-patient Australian pilot trial and enable it to begin a global pivotal trial in early 2004. The first patient to be implanted with the VentrAssist device received it on June 28 2003 (see Clinica No 1071, p 18) and was discharged on August 19, Ventracor said. A second patient will be implanted shortly, it added.