CardiAQ Valve Technologies (CVT) Raises $33 Million for Mitral Valve Replacement

Published: Nov 07, 2012

California transcatheter mitral valve implantation systems maker CardiAQ Technologies closes a $32.5 million funding round. Transcatheter valve maker CardiAQ Valve Technologies raised $33.2 million, successfully closing an equity funding round launched late last month. CardiAQ, a privately held device maker developing transcatheter mitral valve replacement technology, did not disclose the names of investors. Earlier this year the Irvine, Calif.-based company notched an important milestone with the 1st-in-human use of its non-surgical percutaneous mitral heart valve prosthetic, which took place at the The Heart Centre in Copenhagen, Denmark. "Our TMVI system is designed to make nonsurgical mitral heart valve replacement a future alternative to open-heart surgical replacement and repair," CEO Rob Michiels said at that time. "CardiAQ is currently the only transcatheter-transvessel implantation approach to treating MR. While several companies have been trying to perfect a percutaneous approach to repair the mitral valve, we believe that such technologies will have a very difficult time demonstrating sufficient efficacy in treating such a heterogeneous disease."

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