On January 14, 2025, Alleviant Medical, Inc., a privately held medical device company developing a no-implant atrial shunt for heart failure, announced a $90 million financing to fund its second pivotal trial. Led by Glide Healthcare, the round also adds Omega Funds and includes participation from existing shareholders S3 Ventures, RiverVest Venture Partners, Vensana Capital, Longview Ventures, Gilmartin Capital, TMC Venture Fund, and undisclosed strategic investors. Wilson Sonsini Goodrich & Rosati advised Alleviant on the transaction.

The new pivotal trial, ALLAY-HFrEF, will be the first prospective sham-controlled trial focused on patients with heart failure and reduced ejection fraction (HFrEF) in the atrial shunt space. Alleviant will be the only atrial shunt company to have ongoing clinical trials for the full spectrum of heart failure. The company’s first pivotal trial (ALLAY-HF), evaluating the Alleviant System’s safety and efficacy in patients with heart failure and preserved ejection fraction (HFpEF), is on track to finalize enrollment within the next year. The new trial will expand investigation to patients with the other primary form of heart failure, those with reduced ejection fraction (HFrEF).

The Wilson Sonsini team advising Alleviant on the financing was led by Rob Suffoletta and included Nathan Robinson, Alex Dolphin, and Tanner Kuenneth.

For more information, please see Alleviant’s news release.