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Date: 07/07/2021
Category: Investments

CORIFY CARE RAISES €2,35 MILLION IN A ROUND LED BY CLAVE.

The company Corify Care, developer of an innovative and completely non-invasive cardiac mapping system, announced today the closing of a successful investment round worth €2,35 million.

The round was led by Clave Capital with the participation of the Mondragon Corporation, Bexen Cardio and the Center for the Development of Industrial Technology (CDTI), through its Innvierte program, which co-invested €1,22 million along with 465 individual investors who contributed up to €1,13 million through crowdfunding rounds organized with Capital Cell.

This investment complements the raise through the crowdfunding platform Capital Cell through which Corify Care has been able to raise €1,13 million in two campaigns with the participation of 465 investors, including professionals in the field of cardiology, various family offices and other investors with extensive experience in the health sector. Both campaigns were closed with an unbelievable speed within their first day of opening, constituting one of the records of speed in fundraising with a crowdfunding model in Spain in the health sector.

Founded in 2019, Corify Care has created ACORYS®, its first device, which is poised to transform the process of treating cardiac arrhythmias. ACORYS® is based on technology developed in collaboration between Hospital General Universitario Gregorio Marañón and Universitat Politècnica de València. This first Corify Care device will make it possible to personalize the treatment of cardiac arrhythmias.

Worldwide, 33,5 million people suffer from cardiac arrhythmia, a figure that will more than double by 2050. In the EU, 500,000 people die each year due to arrhythmia. With the increase in the aging population, it is estimated that cardiac arrhythmia will affect more than 50 million people by 2050.

In 2021, treatment of patients with cardiac arrhythmias is ineffective and expensive (2% of the European healthcare system, €13,5B per year). Antiarrhythmic drugs only work in 30% of patients, and invasive interventions such as cardiac ablation have a low success rate: more than 50% of patients require repeated intervention and can be offered to only 4% of patients. The main reason for this is that physicians lack the technology to see the origin of the arrhythmia and identify the most appropriate treatment for each patient. To solve this problem, Corify Care has developed ACORYS®, a non-invasive mapping system that in less than 2 minutes can map any cardiac rhythm both in the office and in the operating room.

To date, the company has brought the product to the final version in design and validated the technology with more than 300 patients. In 2020, ACORYS® received the European Institute of Innovation and Technology award (EIT-Innovation Award) for the best innovation with a prize of €50,000. In addition, Corify Care has initiated pre-commercial activity for ACORYS® through agreements and research projects with hospitals nationwide, such as Hospital Clínic de Barcelona, which will generate initial traction in the market.

The current round will enable ACORYS® to complete clinical validation, obtain regulatory approval in Europe and the United States in 2023, and begin its launch on the domestic and international markets.

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