MASSDEVICE ON CALL — BioVentrix reported a $12.4 million funding round for its Revivent heart failure treatment.
San Ramon, Calif.-based BioVentrix said in an equity filing that the equity round, involving 195 unnamed investors, began Jan. 24 and closed today.
The company will net about $11.4 million after the deduction of a sales commission to Taglich Brothers Inc., according to the filing.
The Revivent treatment is a transcatheter-based procedure known as less invasive ventricular enhancement that reduces the overall size of the wall of the heart’s left ventricle, without the need for cardiopulmonary bypass or incisions in the heart, according to the company’s website.
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