Funding will go towards development of first long-term percutaneous right ventricular assist device
Paris, France, September 10, 2024 – Brightflow SAS, a privately held pioneer in the field of long-term percutaneous mechanical circulatory support to treat end-stage heart failure patients, announces today the successful completion of an oversubscribed €16.5M ($18M) in equity Series A financing round. Proceeds from the financing will fund the company’s major strategic initiatives through to early 2026, including completion of product development and first compassionate implantations. The round was led by new investors VIVES Partners (Belgium), Majycc Innovation Santé - UI Investissement (France), BNP Paribas Development (France) and international business angels, with continued participation from the existing syndicate of GO Capital and Karista. Brightflow’s objective is to develop a fully percutaneous long-term right ventricular (RV) mechanical circulatory support to treat end-stage heart failure in patients with severe RV dysfunction.
RV dysfunction is reported in three million patients in Europe and the US; it can be isolated or associated with left ventricular dysfunction. RV dysfunction dramatically impacts patient outcomes and median survival is reduced to two to three years. Mechanical surgical support is rarely implanted because the peri-operative mortality rate ranges from 30 to 50%. Minimally invasive, low-risk solutions will save more patients. “This financing is testament to the strength of our technology and to our promise to create the first long-term blood pump that can be delivered safely and effectively without openheart surgery,” said Sophie Humbert, CEO at Brightflow.
“Brightflow has a world-class founding medical team led by highly qualified executive and technical colleagues, the company has all the assets required to transform Brightflow’s innovative approach into an effective product addressing a highly unmet medical need,” said Philippe Durieux, managing partner at VIVES Partners.
“Brightflow is a perfect match for our investment strategy: high quality French innovation with the potential to yield significant improvements for patients, practitioners and payors, addressing a potentially vast global market with strong strategic interest. We are excited to support Brightflow in the next phases of its development,” said Tanguy Besson, senior associate, Majycc Innovation Santé – UI Investissement.
“As long-term investors, we are proud to be part of the syndicate that should bring Brightflow to its first in-human implantations. We are convinced that the expert team, led by seasoned medtech executives Sophie Humbert (CEO) and Lars Bredenbreuker (CTO), will transform the percutaneous approach devised by Pr. Pascal Lim into a commercial product,” said David Moreau, investment director, BNP Paribas Development.
“Following our seed investment in 2021, we are proud to announce this new round which enables Brightflow to continue the development of its innovative medical device up to the first compassionate cases," said Leila Nicolas, partner at GO Capital and Baudouin Hue, partner at Karista.
“We believe the unique design of our blood pump solution will significantly improve the quality of life of many patients,” said Pr. Pascal Lim, founder and president of Brightflow.
About VIVES IUF
Initiated by UC Louvain, VIVES IUF plays a pivotal role in connecting academic research and innovative projects with public and private investors. Addressing the seed funding gap, VIVES IUF serves as a catalyst for transforming academic research and start-ups into viable, high-impact ventures. Notably, VIVES II portfolio companies raised approximately €1.5 billion ($1.6bn) in financing, demonstrating VIVES ability to transform early-stage companies from pre-seed funding into series A/B and IPOs/Trade Sales.
www.vivesfund.com
About UI Investissement
UI Investissement is an independent, specialized company in the development of unlisted French companies with €1.5 billion under management. For over 50 years, UI Investissement has been committed to work alongside the managers of growing SMEs and STIs to help them emerge as economically and sustainably successful businesses through its focus on three areas: health, agro-business, and business services. With its expertise, UI Investissement provides support to companies in the health sector at all stages of their development and plays a central role in the ecosystem. It is through the Majycc Innovation Santé fund that UI Investissement supports entrepreneurs who aim to be the architects of tomorrow's health. The roots of Majycc Innovation Santé are deeply connected to the DNA of several private clinic groups, nursing home groups, and mutual health insurance companies, representing entrepreneurship, health and human values,
respect for corporate culture, and the projects of the individuals who build them.
www.ui-investissement.com
https://www.linkedin.com/company/ui-investissement
About BNP Paribas Développement
BNP Paribas Développement, a subsidiary of the BNP Paribas Group created in 1988, invests its own equity directly to support the development of SMEs and SMIs as a minority shareholder. In 2016, the investment activity has been completed by an envelope dedicated to the capital of high-potential start-ups to support their growth at different stages of maturity. BNP Paribas Développement manages a portfolio of more than 400 companies worth €1.9 billion, including more than 80 startups. www.bnpparibasdeveloppement.com
: https://www.linkedin.com/company/bnp-paribas-développement
About Brightflow
Founded in 2020, Brightflow is a medical device startup company based in Paris, France. The team’s vision is to bring to market the first long-term mechanical assist device to support RV failure without the need for open-heart surgery.
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