Procyrion Closes $57.7 Million in Series E Financing

Procyrion, Inc. announced the completion of a $57.7 million Series E funding round, including the conversion of $10.0 million of interim financing. The funds will be used to support the ongoing DRAIN-HF pivotal IDE trial evaluating the Aortix percutaneous mechanical circulatory support (pMCS) device in patients with acute decompensated heart failure (ADHF) who remain congested despite standard medical therapy (cardiorenal syndrome or CRS), as well as internal programs to improve product manufacturability and prepare for commercialization. The round was led by Fannin Partners in partnership with new and existing family/multi-family office investors.