Miracor medical systems announced today that it has closed a $ 30.2 million (€ 25 million in the EU) round of funding under the Series D round of funding with funds to support development and commercialization of its PiCSO impulse system, and announced that it was moving its headquarters from Austria to Belgium.
The company’s PiCSO therapy is designed for use during stenting procedures in patients with acute myocardial infarction to improve pressure in the coronary venous system to improve microcirculatory flow and improve infusion into the infarcted area.
The round was led by Ming Capital, based in Shenzhen, China, and co-led by a strategic investor and joined by newly invested SFPI, SRIW and Meusinvest and existing investors Earlybird Venture Capital, Delta Partners, SHS Gesellschaft für Beteiligungsmanagement, Biomed Invest and Peppermint Venture The partners.
“Miracor Medical has shown that the PiCSO pulse system can reduce the size of the infarct and improve heart function. We are impressed with the company’s performance and the latest clinical data on the PiCSO Impulse System, which shows statistically significant better results for patients treated with PiCSO in a propensity score corresponding to the control. PiCSO has global potential and we look forward to supporting and collaborating with Miracor Medical to improve patient outcomes following acute infarctions and bring the PiCSO Impulse System to the next stage of clinical development ”, Jack Yang, Managing Partner of Ming Capital. mentionned in a press release.
As part of the tour de table, which included both equity and debt and a non-dilutive cash advance from the Walloon government, the company announced that it was moving its headquarters to Belgium.
“I am very excited about the prospects for the company. The funds will allow us to conduct a randomized clinical trial in Europe, work with the FDA to gain approval for a large trial in the United States and bring PiCSO therapy to the market in Europe. I would like to thank all the investors for their confidence, in particular the Austrian (aws Gründerfonds) and Belgian public investors who allow this important financing and a step towards the accessibility of PiCSO therapy to patients ”, declared Olivier Delporte, CEO of Miracor, in a prepared statement.