Valfix Medical this week filed an SEC Form D reporting that it sold more than $1 million in an equity offering.
The Tel Aviv, Israel-based biotech company’s new notice completed its first sale on August 22 and does not intend for the equity offering to extend beyond one year, according to the filing.
The total amount sold by Valfix is reported at just over $1.1 million, with the total offering listed at $1.7 million and $575,000 remaining to be sold by the company. There is no associated broker or dealer with the offering.
Valfix declined to disclose the use of proceeds from the offering. The company is currently developing mitral valve repair and replacement solutions.
According to its website, Valfix is developing the first complete transcatheter solution to combine repair and replacement treatments to offer an alternative to open heart surgery. The technology is designed to use multi-wire technology to eliminate mitral regurgitation.