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September 2, 2020

Med-tech startup wins $555K NIH grant for heart failure device

PHOTO | CONTRIBUTED CEO Michael Theran
By Natalie Missakian

A med-tech company based in Bethany said it has won a federal grant to advance the development of a device that aims to improve treatment options for people with end-stage heart failure.

Bonde Innovations LLC, a spinout of Yale University, received the $555,358 Phase 1 Small Business Innovation (SBIR) grant from the National Heart, Lung and Blood Institute of the National Institutes of Health.

CEO Michael Theran said in a phone interview Wednesday morning that the company will use the funding to continue developing CoRISMA, a catheter-delivered, wirelessly powered cardiac device to treat advanced heart failure. 

The disease afflicts 23 million people worldwide and 6.5 million in the U.S., according to the company. 

The company touts the device as a potentially cheaper, less invasive and more effective alternative to current treatments -- transplantation or the surgical implantation of a left ventricular assist (LVAD) device -- with the potential for fewer dangerous complications.

Theran said the company has raised $1.1 million to date, which includes the latest grant as well as investments from high-net-worth individuals and Connecticut Innovations, the state’s venture capital arm.

The venture-backed startup was founded in 2018 based on research that originated at Yale’s Bonde Artificial Heart Lab and led by Pramod Bonde, MD, a cardiac surgeon and professor at Yale School of Medicine.

Contact Natalie Missakian at news@newhavenbiz.com

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