Abiomed joins $15m round for acute heart failure treatment dev Magenta Medical

Novel acute heart failure treatment developer Magenta Medical said it closed a $15 million Series B round of financing, joined by transcatheter heart pump dev Abiomed (NSDQ:ABMD). Investors in the Israel-based company included Pitango Venture capital, JAFCO and a group of industry investors led by Dr. Jacques Seguin, who founded CoreValve. Dr. Seguin will also join the company’s board of directors as part of the funding round. Magenta Medical was founded in 2012 and is developing “novel therapeutic approaches to the management and treatment of acute heart failure.” The treatment is based around a catheter-based therapy which aims to manage congestion through faster and safer fluid and salt removal while protecting kidney function, the company said. “Since its inception, Magenta has made great progress and was able to bring its first product into clinical trials in Europe. The current funding will allow us to expand and accelerate the clinical program on the path to approval in Europe and a pivotal study in the U.S. With the company’s growth and my increased focus on the medical and clinical aspects of the operation, we as founders decided to extend an offer to our chairman, Dr. David Israeli, to serve as CEO of the company. We are delighted that David accepted and we look forward to a continued fruitful partnership,” Magenta co-founder & chief medical officer Dr. Schwammenthal said in a prepared statement. The founders of Magenta ...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Cardiovascular Catheters Abiomed magentamedical Source Type: news