Miracor Medical Systems said today it raised $34.6 million (EU €30 million) Series D round of financing to help support the development and commercialization of its PiCSO Impulse System.
The round was led by Ming Capital and co-led by a strategic investor, the Belgium-based company said. The round was also joined by newly invested Belgian investment fund Quest for Growth and existing investors Ming Capital, SFPI and Meusinvest.
The company’s PiCSO therapy is designed to be used during stenting procedures for patients affected by acute myocardial infarcts to improve pressure in the coronary venous system to improve microcirculatory flow and improve perfusion in the infarcted area.
Data from a recent trial of the PiCSO device, presented at the EuroPCR 2018 conference, indicates that use of the PiCSO impulse system is associated with early improvement of coronary microvascular function, and that therapy with the system results in significantly lower Index of Microcirculatory Resistance scores at 24 to 48 hours compared to control treatments.
“These clinical results are very encouraging. The additional funds enable us to validate the technology in new clinical studies including a randomized clinical trial to start this year in Europe, and launch the PiCSO therapy to help patients,“ CEO Olivier Delporte said in a press release.
In January, Miracor Medical said that it closed a $30.2 million (EU €25 million) round of funding as part of Series D financing round with funds slated to support further development and commercialization of its PiCSO impulse system, and announced it moved its headquarters from Austria to Belgium.