4/21/2006 – On the heels of tapping John MacMahon as chief executive, cardiac device developer Mitralign Inc. has closed its Series B round at $13 million with an additional $3 million tranche, VentureWire has learned.
MacMahon comes to Mitralign from Kerberos Proximal Solutions Inc., where he served as president and CEO and which he co-founded in 2001 as a graduate student. He takes over for Rick Geoffrion, chairman of Mitralign, who had been filling in since the August 2005 departure of CEO Donald Webber.
Based in Tewksbury, Mass., Mitralign is developing a catheter to place sutures around the mitral valve of the heart and cinch them to prevent leakage.
Mitralign has raised $18 million, including a $13 million Series B round led by Oxford Bioscience Partners and joined by ABN Amro Capital, Giza Venture Capital, Accelerated Technologies, and Triathlon Medical Ventures.