Carvolix: Net loss of €13.9 million in the first half, financing secured until 2027
Carvolix (formerly Affluent Medical) announced on September 30, 2026 the appointment of Anne Lange as chairwoman of its board of directors, at the same time as releasing its accounts for the first half of 2026.
The Aix-en-Provence medical technology company is combining an acceleration in clinical and regulatory spending, a widening of its net loss and strengthened financial resources through several transactions.
Net loss of €13.9 million following integration of two companies
For the six months ended June 30, 2026, Carvolix recorded a net loss of €13.9 million, compared with €9.4 million a year earlier. The ordinary operating loss stood at €14.4 million, compared with €9.1 million in the first half of 2025.
This development reflects, according to the company, two factors: the consolidation of Artedrone and Caranx Medical since the end of January 2026, and the acceleration on the TAVIPILOT platform, with the completion of clinical trials and preparation of the robot's submission file to the FDA. Personnel costs increased to €6.3 million compared with €4.1 million, with average headcount rising from 76 to 102 employees.
Other operating income, consisting exclusively of research tax credit, reached €1.3 million compared with €0.6 million, in connection with the consolidation of the two acquired companies.
Cash of €7 million despite consumption of €13 million over the half-year
Cash consumption related to operations amounted to €13.0 million in the first half of 2026, compared with €6.8 million a year earlier. Financing flows reached €16.2 million, including €19.6 million in capital increases net of fees.
At June 30, 2026, the group's cash and liquid investments stood at €7.0 million (€0.6 million in cash and €6.4 million in money market funds), compared with €1.8 million at December 31, 2025 and €5.4 million at June 30, 2025.
Carvolix secured a tranche of €10 million on June 24, 2026, bringing the half-year equity financing to €20 million, then, after the half-year closing, concluded a structured bond financing of €30 million with Claret Capital Partners on August 6, 2026 (€20 million in convertible bonds and €10 million in amortising bonds, maximum dilution capped at 8.6% of existing capital). Following drawdown of tranche A, resources are secured until February 2027, and until October 2027 in the event of full drawdown.
Regulatory filings for TAVIPILOT in Europe and the United States
On the clinical and regulatory front, Carvolix filed the CE marking application for TAVIPILOT Software, with certification expected before the end of the year and commercial launch in Europe targeted for early 2027. The FDA file for TAVIPILOT Robot has also been submitted, with authorization expected in early 2027.
For the Kalios mitral ring, the company announced on June 15, 2026 positive three-year clinical results from the European Optimise II pivot study: 100% of evaluated patients (15 patients who reached three-year follow-up) achieved the primary endpoint, with no device-related adverse events reported over three years. An FDA submission is planned with a view to commercial launch in the United States targeted for 2027.
Regarding governance, Anne Lange, a board member since April 2026, succeeds Liane Teplitsky, who has been chairwoman since January 2026 and remains a director. A graduate of ENA, Anne Lange serves on the boards of Pernod Ricard, Orange and Peugeot Invest.
