Miracor secures $10 million in series B | Funding Roundup

September 14, 2011 by MassDevice staff

Miracor Medical Systems GmbH secures $10 million in the first closing of a series B financing round.

Miracor

Private medical device company, Miracor Medical Systems GmbH, secured $10 million in the first closing of the series B financing round. Second closing is pending approval by investors.

Austria Wirtschaftsservice and German venture capital investment group SHS Gesellschaft für Beteiligungsmanagement joined existing investors, Earlybird and Delta Partners, to support Miracor's financing round.

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"We are very pleased that we now can focus on the clinical trials to document the positive effects of our technology," Jon Hoem, Miracor CEO said in a prepared statement. "With the strong investor syndicate backing Miracor we have a unique opportunity to bring our product offering to the patients who need additional care after a heart attack."

Miracor is focusing on its Pressure-controlled Intermittent Coronary Sinus Occlusion System (PISCO), designed to improve acute coronary syndrome revascularization following primary percutaneous coronary intervention.  The technology has the potential to restore the function of muscle tissue following heart attacks or heart failure, according to Miracor.

Since its inception, the company has secured a total of $21.3 million in venture capital and grants to develop its pipeline.

Funding


Here's a roundup of other dealflow and investment news:

  • Cardica secures $4 million note purchase


  • Valeritas completes $150 million in series C





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