4C Medical Technologies Completes $10 Million Oversubscribed Convertible Note Financing to Advance AltaValve™ TMVR System

MINNEAPOLIS, Minn., Dec. 24, 2020 /PRNewswire/ -- 4C Medical Technologies ("4C Medical"), a private medical technology company focused on developing minimally invasive treatment technologies for structural heart disease, today announced the completion of an oversubscribed convertible note financing round totaling $10 million. The round was led by a China-based venture capital firm. 4C Medical intends to use the net proceeds from this financing to continue the development of its AltaValve^™Transcatheter Mitral Valve Replacement (TMVR) devices, along with a fully recapturable and retrievable transseptal delivery system. The company is conducting Early Feasibility Studies (EFS) in multiple regions worldwide and plans to incorporate this system into those studies. The system’s fully recapturable and retrievable features, combined with its transseptal delivery design, will enhance procedural safety and increase its appeal to a broader range of physicians and patients.

Robert Thatcher, CEO of 4C Medical Technologies, stated, “The AltaValve transcatheter mitral valve replacement technology enables direct implantation above the native mitral valve. Compared with other TMVR devices, we believe it holds greater potential to benefit a broader patient population. With the addition of new investors in China, 4C Medical is well-positioned to launch AltaValve in the world’s largest medical device market.”

Mr. JC Sun, Founder of JCS Consulting, LLC, serves as the company’s Strategic Business Advisor, providing advisory services on the issuance of convertible bonds in Asia.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referenced herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold in the United States unless such securities are registered under the U.S. Securities Act and other applicable U.S. state laws, or an exemption from registration is available.