CardioMech raises $13M for transcatheter mitral chordal repair tech
03 Jan 2024
CardioMech announced that it closed a $13 million financing round, bringing its total funding to $42 million to date.
The Norway-based company is developing transfemoral, transeptally delivered mitral valve chordal repair technology in Fridley, Minnesota. Its latest round of funding came from existing and new investors, including an undisclosed strategic investor.
CardioMech said in a news release that the oversubscribed round demonstrates the belief behind its chordal repair technology. The company believes it could become a first-line therapy for degenerative mitral regurgitation (MR) patients.
The company designed the artificial chord device to reduce or eliminate regurgitation and restore the native anatomy. CardioMech believes the simple, straightforward procedure could provide an alternative to open-heart surgery and the surgically ineligible. Its device could reduce the need for open-heart surgery and may lessen the need for watchful waiting in younger, healthier patients.
CardioMech completed the first-in-human procedure with its technology in 2021.
Dr. Jacob Bergsland, CardioMech’s founder, says the less invasive technology could eliminate MR in these younger and healthier patients. Bergsland believes the “category-defining” technology may benefit patients from MR around the world.
“I am thrilled to continue building on a successful long-term collaboration with our existing investors in the development of this technology, as well as to partner with new individual investors that truly believe in this team and this technology,” said Rick Nehm, president, CEO and board chair of CardioMech. “We are working together to achieve our objective to significantly improve the standard of care for the millions of patients suffering from degenerative mitral regurgitation.”
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Organizations
Indications
Targets
-Drugs
-Chat with Hiro
Hot reports
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Empower better decisions with the latest in pharmaceutical intelligence.