About VahatiCor
VahatiCor develops a small heart implant for people whose persistent chest pain comes from poor blood flow in the heart's tiniest vessels. The condition is coronary microvascular dysfunction, or CMD, which can occur without blockages in larger heart arteries. Doctors deliver the A-FLUX Reducer System through a thin tube called a catheter into the coronary sinus, the heart's main drainage vein. The implant creates a controlled narrowing intended to redistribute blood toward the heart muscle. It remains investigational and is not approved for sale.
The company is based in Santa Clara, California. Harry Rowland became chief executive officer in May 2026 after co-founding Endotronix and guiding it through FDA approval and a 2024 acquisition by Edwards Lifesciences. Founder and chairman Marwan Berrada-Sounni also serves as president, chief executive officer, and co-founder of Advanced NanoTherapies and T45 Labs. VahatiCor is part of the T45 Labs portfolio.
Funding Rounds (SEC Form D)
| First sale | Filed with SEC | Amount sold | Investors | Avg. check | Terms | Filing |
|---|---|---|---|---|---|---|
| Nov 7, 2025 | Dec 4, 2025amended Oct 20, 2026 | $30,383,479of $32.3M target | 19 | $1.5M | EquityRule 506(b) | Form D/A ↗1 earlier filing |
First sale is the date the first investor in the offering committed to invest. Companies must file Form D within 15 days of that date, so filing dates run later.
Rounds announced by VahatiCor
What the company said publicly about its funding. Announced amounts can differ from Form D figures: an announcement can combine several closings, and some money is raised without a Form D.
| Announced | Round | Amount | Investors | Source |
|---|---|---|---|---|
| Nov 20, 2025 | Series B | $23 million | S3 Ventures (lead), Intuitive Ventures; undisclosed strategic investor | Company announcement ↗ |
Why Investors Backed VahatiCor
VahatiCor is testing A-FLUX, an implant for coronary microvascular dysfunction. Its case combines a poorly served patient group with a device intended to change blood flow through the heart's smallest vessels. The company has reached clinical evaluation in the United States and Europe. Because A-FLUX is investigational, its prospects depend on study results and regulatory progress.
The problem it targets
CMD can cause continuing chest pain even when the major coronary arteries have no blockage. In the United States, 3 million to 4 million people show signs of poor heart blood flow without obstructive coronary artery disease. Existing anti-anginal medicines leave more than half of CMD patients symptomatic, and no treatment directly improves coronary flow reserve. Patients may face repeated hospital stays and coronary tests. More than 20 million people in North America and Europe have ongoing angina, while 4 million invasive angiograms are performed each year.
What the product does
A-FLUX is a self-expanding mesh made of nitinol, a flexible metal alloy, and shaped like an hourglass. Its narrow center uses a tighter weave to control flow. The physician can recapture it until halfway through deployment, retaining control before final placement. Four diameters—9, 11, 13, and 15 millimeters—help match the patient's vein. The controlled narrowing is designed to redistribute oxygenated blood through the heart muscle and ease chest pain.
Progress so far
The first patient received A-FLUX through Health Canada's Special Access Program in February 2024. VahatiCor later completed a compassionate-use study involving people with obstructive coronary disease or symptomatic CMD. By November 2025, SERRA-I was planned for 30 participants across six sites. The first U.S. participant enrolled at Yale New Haven Hospital in June 2026. Enrollment was also underway in a European arm. The broader program measures safety and effectiveness in patients with continuing symptoms. Four related publications appeared by February 2026, including papers in JACC Journals and JSCAI.
Who backs it
S3 Ventures led the financing and manages more than $1 billion. It invests from seed through Series B and can commit more than $20 million to one company over time. Intuitive Ventures, which also invested, manages $250 million and focuses on minimally invasive care. It offers operator and clinician experience plus access to Intuitive Surgical's technical and commercial reach. An unnamed strategic investor also joined. S3's Brian Smith views A-FLUX's repositionable, self-expanding design as an advantage for procedural safety and effectiveness.
How the market is moving
Harry Rowland argues that cardiology is moving toward treating microvascular disease as a frontline condition. VahatiCor also points to ORBITA-COSMIC as the second sham-controlled trial of coronary sinus reducer therapy. In VahatiCor's view, that trial confirmed symptom benefits for angina and supports considering reducer therapy earlier. That trend could expand interest in this treatment approach, although A-FLUX still needs its own clinical evidence.
We wrote this summary from public statements by VahatiCor and its investors. It is not investment advice.
VahatiCor in the News
- VahatiCor: On the Trail of Microvascular Disease
- VahatiCor Kicks Off Patient Enrollment for Study of its A-FLUX Reducer System
- VahatiCor CEO sees an 'eye-popping' opportunity for CMD treatment
- VahatiCor Begins United States SERRA-I Early Feasibility Study of A-FLUX Reducer System for Microvascular Dysfunction
- VahatiCor, Inc. Announces Treatment of First Patient with the A-FLUX Reducer System Innovation for Patients Suffering from Angina Due to Persistent Ischemic Heart Disease
Leadership Team
Executive officers and directors listed on VahatiCor's Form D filed Oct 20, 2026.
