Agoura Hills medical device company V-Wave has nabbed $98 million for its Series C round of financing, paving the way for clinical trials and Food and Drug Administration clearance, according to a statement from the company late Tuesday.


In addition to its corporate offices in Agoura Hills, the privately held company also operates in Israel.


V-Wave is focused on developing a shunt device, called the Ventura Interatrial Shunt, for patients with heart failure and pulmonary arterial hypertension. The device is currently being evaluated in two international randomized trials, one for each cardiovascular condition.


The RELIEVE-HF trial is a randomized pivotal controlled clinical trial currently enrolling in the U.S. and eight other countries,” Dr. Neal Eigler, chief executive of V-Wave said in a statement, referring to the heart failure study. “From the latter, we are excited about the early signals related to ease of implantation and procedure safety.”


Financing was led by Deerfield Management. Other investors include Aperture Venture Partners; BRM Group; Endeavour Vision; Johnson & Johnson innovation - JJDC Inc.; Pontifax; Pura Vida Investments; GHS Fund, or Quark Venture LP; Triventures and the Israel Secondary Fund.