# Ancora Heart

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ancora-heart

- Industry: Medical Devices & Equipment
- Headquarters: Santa Clara, US
- Website: www.ancoraheart.com
- Total disclosed funding: $110M
- Latest round: Series I (Jun 18, 2021)
- Investors on record: 5

## About

Ancora Heart, Inc., based in the US, focuses on innovative cardiac therapies aimed at improving the quality of life for patients suffering from heart failure, particularly through its advanced medical device offerings.Ancora Heart, Inc. specializes in developing therapeutics for heart failure. Founded in 2001 and headquartered in Santa Clara, US, the company has executed a total of 8 deals, with its most recent funding round occurring on June 18, 2021. The latest round, Series I, raised USD 80.00 mn, primarily from investors including LCP Ventures, Sands Capital Ventures, Savitr Capital LLC, and Sio Capital Management. The company is led by CEO Jeff Closs, who has extensive experience in the medical device sector.Ancora Heart primarily offers the AccuCinch Ventricular Restoration System, an innovative therapeutic device aimed at patients suffering from heart failure, specifically congestive heart failure (CHF). This device has received Breakthrough Device Designation from the FDA and is designed to enhance patients' quality of life by addressing common heart failure symptoms such as extreme fatigue and difficulty breathing. The AccuCinch system works by initiating reverse remodeling in the heart, particularly for those with heart failure with reduced ejection fraction (HFrEF). The primary end-users of the AccuCinch system are patients who have exhausted other treatment options, while healthcare providers also play a critical role in administering this investigational therapy. Currently, clinical trials, such as the CORCINCH-HF Study, are being conducted to gather further evidence of its effectiveness, and the company aims to serve markets predominantly in the United States and Europe.The revenue model for Ancora Heart centers around the AccuCinch Ventricular Restoration System, which is classified as an investigational device. Given its status, the company engages in clinical investigations where the system is made available to patients participating in trials, rather than commercial sales. Ancora Heart utilizes a structured transaction framework that may involve partnerships with healthcare institutions and direct engagement with medical professionals to facilitate patient enrollment in clinical studies. Specific pricing plans for the AccuCinch system are not disclosed, positioning the device within a specialized medical market focusing on improving treatment outcomes for heart failure patients.In June 2021, Ancora Heart, Inc. raised USD 80.00 mn in venture funding to accelerate the CORCINCH-HF pivotal clinical study of the AccuCinch® Ventricular Restoration System. The funding will facilitate continued development and clinical trials, with a focus on expanding market reach in the United States and Europe. Future product launches and strategic initiatives are intended to enhance the company's portfolio in cardiac therapies.

## Funding rounds

- Series I, Jun 18, 2021, $80M — Savitr Capital LLC, Sio Capital Management, LCP Ventures, Sands Capital Alternatives
- Series D, Apr 28, 2010, $30M — New Enterprise Associates

## Investors

- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series D
- Savitr Capital LLC — Series I
- Sio Capital Management — Series I
- LCP Ventures — Series I
- Sands Capital Alternatives (https://capitalatlas.ai/funds/sands-capital-alternatives) — Series I