Funds will be used to support clinical and prepare commercial activities.
AWANS, Belgium, Sept. 4, 2018 /PRNewswire/ -- Miracor Medical SA (Miracor Medical) today announced the final closing of the Series D financing round of €30M. The Series D capital will be used to further develop and commercialize the PiCSO® Impulse System. The Series-D round was led by Ming Capital (Shenzhen, China) and co-led by a strategic investor. Participating new investors include Belgian alternative investment fund Quest for Growth, and participating existing investors include Ming Capital, SFPI and Meusinvest. The technical and clinical research programs of Miracor are also supported by a financing program of the DGO6 (Walloon Government).
PiCSO therapy has shown in several clinical studies positive results. New data from the OxAMI-PICSO trial was presented at EuroPCR 2018, a global interventional cardiology conference, and the results were published simultaneously in EuroIntervention (De Maria, et al). OxAMI-PICSO showed that the use of the PiCSO Impulse System is associated with an early improvement of coronary microvascular function. PiCSO therapy accelerates the microcirculatory recovery resulting in significantly lower IMR (Index of Microcirculatory Resistance) at 24-48 hours when compared to controls leading to overall infarct size reduction.
"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," says Olivier Delporte, CEO of Miracor Medical.
PiCSO therapy is provided during the PCI (Percutaneous Coronary Intervention) in patients enduring acute myocardial infarct (AMI). The PiCSO Impulse System improves coronary myocardial perfusion by intermittently occluding the coronary sinus outflow resulting in improved perfusion of the infarcted area. The use of the PiCSO Impulse System offers advantages of reducing the infarct size after AMI.
About Miracor Medical
Miracor Medical (www.miracormedical.com), located in Awans, Belgium, provides innovative solutions for the treatment of severe cardiac diseases, aiming to improve short and long-term clinical outcomes and reduce associated cost.
Miracor Medical develops the PiCSO Impulse System, the first and only coronary sinus intervention designed to reduce infarct size, improve cardiac function and potentially reduce the onset of heart failure following acute myocardial infarction.
About Quest for Growth
QUEST FOR GROWTH (www.questforgrowth.com) is a privak/pricaf, a public alternative investment fund (AIF) with fixed capital under Belgian law, managed by Capricorn Venture Partners NV. The diversified portfolio of Quest for Growth is for the most part invested in growth companies listed on European stock exchanges, in European unquoted companies and in venture capital funds. Quest for Growth focuses on innovative companies in areas such as information and communication technology (ICT), technologies for the healthcare sector (Health‐tech) and clean technology (Cleantech). Quest for Growth has been listed on Euronext Brussels since 23 September 1998.
NOTE: The PiCSO® Impulse System is not commercially available.