CardioRenal, a company specialized in improving treatment at home for patients with severe chronic kidney disease (CKD), has secured funds of EUR 3.3 million ($3.7M) from business angels and longstanding company shareholders (the management) as part of a round of seed capital financing.
This funding will enable the company to pursue its plan to achieve clinical and regulatory approval in preparation for the CE marking of its integrated tool, which is expected in 2023. CardioRenal completed a clinical trial on the technology in October 2021. The results of this trial will be presented at the European Renal Association congress in Paris, France, in May, the company said.
“This fundraising will support our roadmap for our forthcoming launch in Europe and the United States. We would like to thank our investors for their confidence and for joining us on this round, which has surpassed our expectations,” said Maurice Bérenger, CEO of CardioRenal.
Globally, around 700 million people live with CKD, with many more likely still undiagnosed. These patients frequently have fluctuating blood potassium levels, which exposes them to possible cardiac complications. The associated cardiovascular events account for up to 30% of deaths in patients with chronic kidney disease.