US-based 4C Medical Technologies, Inc., a medical device company controlled by China-based MicroPort CardioFlow Medtech Co., Ltd (HKG: 2160), announced the completion of a $175 million Series D financing round. The funding, led by Boston Scientific Corporation, will accelerate clinical development and commercialization of 4C Medical’s AltaValve System, a next-generation transcatheter mitral valve replacement technology.
Funding Details and Use of Proceeds
The Series D round saw participation from both new and existing shareholders. Proceeds will be dedicated to advancing the clinical development of the AltaValve System, a fully recyclable low outer diameter TMVR system co-developed with MicroPort CardioFlow. The product features a unique atrial fixation design that minimizes impact on the anatomical structure of the mitral valve and reduces the incidence of postoperative left ventricular outflow tract obstruction.
Clinical Study and Market Potential
Enrollment for a clinical study on the AltaValve System commenced in the US in October last year. The study aims to evaluate the safety and efficacy of the system in patients with moderate to severe mitral regurgitation (MR) who are not suitable for surgery or transcatheter repair. The product targets the significant unmet need in mitral regurgitation treatment, a condition affecting millions of patients worldwide who require effective, non-invasive solutions.-Fineline Info & Tech
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