Harpoon Medical is looking to move from concept to the clinic with the $3.8 million it raised in its Series A funding round in support of its mitral repair devices.
Financing was led by Epidarex Capital and joined by Maryland Venture Fund, the Abell Foundation and "medical device executives, doctors and successful business executives in the Maryland area," Harpoon said.
The company received so much interest that it raised the cap for its Series A round, Harpoon CEO Bill Niland said in prepared remarks. "When you have the opportunity to put together a high caliber syndicate of investors who can help you with more than just capital you find a way to accommodate the demand."
Harpoon is working on image-guided, minimally invasive products for beating-heart mitral valve repair surgery. The company hopes to "transform traditional open heart mitral valve surgery from a complex 3-6 hour operation to a 60-minute procedure and reduce the recovery period from weeks to days," according to a press release.