On January 26, 2023, Alleviant Medical, Inc., a privately-held medical device company developing a no-implant interatrial shunt for heart failure, announced the closing of a $75 million equity financing co-led by S3 Ventures and RiverVest Venture Partners. The lead investors in this new funding round are joined by Vensana Capital, Longview Ventures, TMC Venture Fund, and a strategic investor, in addition to Gilmartin Capital, ShangBay Capital, and another undisclosed strategic investor. This financing will fund the company’s global pivotal trial, ALLAY-HF (Safety and Efficacy of the Alleviant System for No-Implant Interatrial Shunt Creation in Patients with Chronic Heart Failure). ALLAY-HF is designed to demonstrate the safety and effectiveness of the Alleviant System for the treatment of heart failure through left atrial decompression. Wilson Sonsini Goodrich & Rosati represented Alleviant Medical in the transaction.

The Wilson Sonsini team that advised Alleviant Medical in the transaction includes Rob Suffoletta, Nathan Robinson, Amy Ilowite, and Daniel Xo.

For more information, please see the press release.