CroíValve awarded EIC Accelerator funding to advance treatment for tricuspid regurgitation

EIT Health-supported start-up CroíValve has been awarded funding from Horizon Europe’s European Innovation Council (EIC) Accelerator Programme, marking a major milestone in the company’s journey to bring a novel solution for tricuspid regurgitation (TR) to more patients across Europe and beyond.

The award includes €2.5 million in grant funding, combined with a €10 million equity investment in CroíValve’s next financing round. Part of the EU’s Horizon Europe 2021–2027 Research and Innovation Programme, the EIC Accelerator provides support to high-potential, high-risk start-ups and scale-ups that are developing game-changing innovations.

CroíValve’s flagship product, the DUO™ Coaptation Valve System, is a novel, minimally invasive, transcatheter device designed to treat severe tricuspid regurgitation. Tricuspid regurgitation occurs when the tricuspid valve in the heart does not close properly, allowing blood to flow backward and potentially leading to severe heart complications.

CroíValve’s DUO device offers a novel, minimally invasive approach to addressing this condition, providing an alternative to the traditional open-heart surgery, which is often not suitable for elderly patients. The system works in tandem with the native tricuspid valve to restore function without removing or damaging the valve’s natural structure. Through its unique anchoring mechanism, the DUO™ System preserves native anatomy and avoids contact with critical structures.  Designed to treat a broad patient population, the DUO System accommodates the heterogeneity of patient anatomies while enabling a more straightforward and predictable procedure with a short learning curve.

The DUO™ System is currently under clinical investigation through the TANDEM II Study, a multicentre, prospective early feasibility study in the US and Europe.

“Securing European Innovation Council (EIC) funding is instrumental in expanding clinical validation of the DUO™ System, a novel minimally invasive, transcatheter device to treat severe+ tricuspid regurgitation. There is a significant unmet clinical need to treat the heterogeneous patient population who are not suited to the first generation transcatheter tricuspid devices.  It is CroiValve’s mission to innovate a better way to help more patients suffering with this disease and we are honoured to have EIC support for this journey,” said Lucy O’Keeffe, CEO, CroíValve.

This funding follows CroíValve’s $16 million Series B round, announced in August 2024, and builds on the company’s continued success in progressing its technology and clinical validation. A spin-out from Trinity College Dublin , CroíValve has benefitted from EIT Health accelerator programmes, which have supported its development milestones from early proof of concept to market readiness.

Learn more about CroíValve’s solution here. 

If you are looking to scale your start-up, explore the opportunities and support available through EIT Health Ireland-UK. Join our network and accelerate your journey to market success.