The round was led by Cormorant Asset Management and OneVentures, through the OneVentures Healthcare Fund III. In addition, BiVACOR was awarded a $3 Million Small Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH). The investments will fund the company's preclinical verification activities and the addition of key team members to support first in human studies.

BiVACOR® is a preclinical stage medical device company developing the BiVACOR Total Artificial Heart (TAH), the first long-term therapy for patients with severe heart failure. The TAH is designed to replace the complete function of the native heart and address the global unmet need of patients with end-stage heart failure (HF) by providing a life-extending solution.

BiVACOR was founded in 2008 by a team of internationally renowned biomedical engineers and cardiac surgeons. CEO/CTO Daniel Timms, Ph.D., leads the organization along with Chief Medical Officer William Cohn, MD, and is supported by a scientific advisory board comprised of veteran surgeons, inventors, and researchers devoted to developing technologies to fix or replace the human heart.