Restore Medical, backed by Peregrine Ventures since day one and chaired by our Co-Founder & General Managing Partner Eyal Lifschitz, has closed a $23 million Series B financing round.
The round was co-led by a global strategic healthcare partner and Pitango HealthTech. Peregrine reinvested alongside an existing global strategic partner, the European Innovation Council (EIC) Fund, and SU Management, clear evidence of worldwide confidence in Israeli MedTech.
Proceeds will complete the European feasibility study of ContraBand™, the first transcatheter pulmonary-artery-banding (PAB) system, and launch a U.S. IDE trial following the device’s 2024 FDA Breakthrough Device designation. Early data show meaningful improvements in ventricular reverse-remodelling, haemodynamics, and functional capacity.
Delivered through an 18 F catheter in about 55 minutes, ContraBand™ is fully adjustable and reversible, offering a minimally invasive option for heart-failure patients who have exhausted pharmacologic therapy yet are not candidates for LVAD or transplant.
Peregrine Ventures congratulates CEO Gilad Marom and the entire Restore team on this milestone and looks forward to continuing our support of their mission to bring life-changing care to millions of heart-failure patients worldwide.
