Firm Advises Fannin Partners on Procyrion’s $57.7 Million Series E Financing

On February 5, 2024, Procyrion, Inc., a medical device company dedicated to improving outcomes for patients with cardiac and renal impairment, announced the completion of a $57.7 million Series E funding round. The round was led by Fannin Partners in partnership with new and existing family/multi-family office investors. The Series E financing also included participation from returning investors including Bluebird Ventures and an undisclosed strategic investor. Wilson Sonsini Goodrich & Rosati advised lead investor Fannin Partners on the transaction.

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). In addition, funds will support internal programs to improve product manufacturability and to prepare for commercialization.

The Wilson Sonsini team that advised Fannin Partners was led by Robert Suffoletta and included Melanie Froh Carver and Adam Enochs.

For more information, please see Procyrion’s press release.