CardioMech AS Secures $13 Million in New Funding to Advance Transcatheter Artificial Chordae Replacement System for Mitral Valve Repair

Jan 05, 2024 00:02 CST Updated 00:02

CardioMech

Next-Generation Interventional Device Developer for Structural Heart Disease

Source: Heart Future; Editor: Jacky

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Heart Future

On January 2, 2024, CardioMech AS, a medical device company focused on developing transcatheter artificial chordae replacement systems, announced that it hasCompleted a new round of financing worth $13 million (approximately 93 million RMB)(A total of 42 million US dollars to date).

CardioMech Receives Strong Support from Existing and New Investors, Including an Undisclosed Strategic Investor.

# CardioMech Completes Nearly 100 Million Yuan in Financing

This round of oversubscription further indicates that investors are highly hopeful that chordal repair could become the preferred therapy for patients with degenerative mitral regurgitation, especially for CardioMech, as investors believe CardioMech can lead this market.

The CardioMech device is an artificial chordae tendineae designed to reduce or eliminate regurgitation and restore the natural anatomy of the mitral valve.This catheter-based treatment approach aims to provide a straightforward procedure and simultaneously offers an alternative treatment option for patients suitable for open-heart surgery as well as those considered unsuitable for surgery. As such, the CardioMech device has the potential to reduce the demand for open-heart surgeries and may spare younger and relatively healthier patients from watchful waiting.

▲Image SourceOfficial CompanyNetwork (the same below)

CardioMech President Rick Nehm said, "We are delighted to continue the successful long-term collaboration with our existing investors on the development of this technology and to partner with new individual investors who truly trust the company's team and this technology."

▲Rick Nehm

Dr. Jacob Bergsland, founder of CardioMech, stated that there is an urgent need for a minimally invasive technology to provide mitral regurgitation therapy for younger, relatively healthy patients. CardioMech is developing a disruptive technology that could benefit patients with mitral regurgitation worldwide. The technology developed by CardioMech has a high market fit rate in the corresponding field, and the company boasts a professional team and excellent partners, which leads to the belief that it will experience significant growth in the future.

# About CardioMech MVRS

Mitral Regurgitation (MR) is one of the most common cardiovascular diseases, typically caused by incomplete closure of the mitral valve, which can weaken patients and, if left untreated, may even be fatal.This market is expected to be larger than the TAVR (Transcatheter Aortic Valve Replacement) market, which currently stands at $6 billion.

The mitral valve is composed of leaflets and chordae tendineae, with the chordae tendineae connecting the leaflets to the muscles at the bottom of the ventricle. Artificial chordae tendineae can be used to replace damaged or aging natural chordae tendineae to maintain the structural integrity of the mitral valve. They are mainly used in surgeries aimed at repairing or reconstructing the mitral valve to address regurgitation problems caused by incomplete valve closure.

CardioMech MVRS is a catheter-based mitral valve repair technology used to treat patients with moderate to severe or severe, symptomatic MR caused by leaflet prolapse or flail, implanting artificial chordae to reduce or eliminate mitral regurgitation.

During the CardioMech MVRS procedure, artificial chordae with anchors at both ends are implanted—one end fixed to the mitral valve leaflet and the other to the left ventricular wall. The artificial chordae are then adjusted on the beating heart. CardioMech MVRS can be used alone during the procedure to treat MR. However, if CardioMech MVRS alone does not achieve satisfactory results, it can also be used in conjunction with edge-to-edge repair techniques to further reduce regurgitation.

# About CardioMech

CardioMech is a medical device company located in Oslo, Norway, focused on developing transcatheter artificial chordae replacement systems. The company’s transcatheter artificial chordae implantation system is used to treat high-risk patients with severe, symptomatic, degenerative mitral valve disease (caused by leaflet prolapse or flail).

CardioMech has developed a technology aimed at providing a less invasive treatment option, avoiding the need for open-heart surgery required in traditional procedures. This new interventional therapy will offer another treatment choice for patients with mitral regurgitation.

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Editor-in-Chief | Zhao Qing Reviewed by | Yi He