AP NEWS

CorWave’s Next-Generation LVAD, Neptune, Receives Funding

July 10, 2018

CLICHY, France--(BUSINESS WIRE)--Jul 10, 2018--The CALYPSO Research and Development (R&D) program, with a total budget of 25 million euros over 4 years, will be partially financed with 14 million euros support from the Programme d’Investissements d’Avenir (Future Investments Program), managed by the Secrétariat Général pour l’Investissement (General Secretariat for Investment – SGPI) and operated by Bpifrance.

A breakthrough technology addressing an important public health issue: chronic heart failure.

for the full news release.

The CALYPSO program aims to optimise and then clinically evaluate the CorWave Neptune device, an implantable cardiac support blood pump (Left Ventricular Assist Device or LVAD). Neptune features natural physiological response, designed to reduce the risk of complications associated to current LVADs and intended for patients suffering from severe heart failure. Heart failure is involved in one in ten deaths in France. This chronic disease can be fatal, with nearly half of patients dying within five years of diagnosis. The number of patients affected by heart failure increases as the population ages and becomes more sedentary.

Louis de Lillers, CEO of CorWave, leader of the CALYPSO project: “We are very pleased to set up major partnerships with world-class university hospitals, thanks to the financial support of Bpifrance and the French Government. The CALYPSO program considerably increases the resources allocated to preclinical and clinical studies prior to the marketing of Neptune, a cardiac support pump that closely mimics the physiological flow of the native heart. This program will help CorWave convert its disruptive technology into a sustainable competitive advantage to establish itself as a global leader in cardiac support, a market that already accounts for nearly $1 billion in annual sales.”

View source version on businesswire.com:https://www.businesswire.com/news/home/20180710005306/en/

CONTACT: For CorWave

FP2COM

Florence Portejoie,+33 (0) 6 07 76 82 83

fportejoie@fp2com.fr

or

Secrétariat Général pour l’Investissement (SGPI)

Vincent Deshayes, +33 06 98 60 55 31

Vincent.deshayes@pm.gouv.fr

or

Bpifrance

Annelot Huijgen, +33 (0)1 41 79 94 48

annelot.huijgen@bpifrance.fr

KEYWORD: UNITED STATES EUROPE NORTH AMERICA FRANCE MASSACHUSETTS

INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY CARDIOLOGY MEDICAL DEVICES OTHER HEALTH GENERAL HEALTH

SOURCE: CorWave

Copyright Business Wire 2018.

PUB: 07/10/2018 09:00 AM/DISC: 07/10/2018 09:01 AM

http://www.businesswire.com/news/home/20180710005306/en

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