Laplace Interventional, a US based medical device company developing transcatheter tricuspid valve technology, has successfully closed a $12.9 million Series B financing round.

The financing, which was co-led by ShangBay Capital and Features Capital, with additional participation from Engage Venture Partners, and JWC Ventures, will be used to excel Laplace Interventional strategy for its First-in-Human (FIH) trials of its transcatheter valve system.

Laplace Intervention are developing a prosthetic valve which they claim can improve the treatment of Tricuspid Regurgitation (TR) and reduce the need for open-heart surgery.

Currently there are few treatment options for patients with TR and it is considered one of the most difficult heart valve issues to treat. There is a growing number of patients with TR which can be attributed to an aging population. According to a GlobalData report, in the US alone they expect the number of severe cases to go from 262,375 in 2023 to 371,041 in 2033. In the same period, the market value is expected to rise from $8.7 million to $901 million.

“Laplace has designed an ingenious medical technology and is positioned to solve one of the largest unmet clinical needs remaining in structural heart disease. Tricuspid valve patients and their physicians deserve an advanced world-class solution.” said William Dai, Founding Managing Partner at ShangBay Capital.

In 2021 Laplace Interventional raised $7.9 million in a Series A financing round which was led by a undisclosed investor, with participation from ShangBay Capital and Mayo Clinic.

Currently the transcatheter valve system is in the early stage of development and is yet to be cleared by the US Food & Drug Administration or any regulatory authority.