Mitrassist Secures $50 Million in Funding with Investments from Fosun Pharma and Ping An Insurance Ahead of IPO

Recently, the Israeli medical device startup Mitrassist announced that it has completed a new round of financing amounting to $50 million. Investors in this round include China's Fosun Pharmaceutical and Ping An Insurance.

Mitrassist, founded in 2009, is dedicated to developing technologies to address heart valve disorders. It is reported that this condition diminishes the quality of life for hundreds of thousands of people annually. Mitrassist has developed a replacement valve with an integrated delivery catheter, which can be implanted without requiring high-risk open-heart surgery involving complete cardiac arrest. According to Mitrassist, hundreds of thousands of patients currently in need of valve replacement are ineligible for open-heart surgery and thus unable to receive treatment. Our solution will enable all these patients to access the necessary treatment, thereby significantly extending their lives.

According to Mitrassist’s official website, its treatment for mitral regurgitation (MR) involves neither valve repair nor valve replacement. Instead, it places a proprietary valve implant on top of the native valve to work in synergy with it and enhance valve function. Mitrassist states that this valve-in-valve technology overcomes various challenges encountered in MR treatment. Compared with existing and emerging minimally invasive solutions, its implantation technique preserves natural mitral valve function, exerts minimal physiological impact on the heart, and can treat all types of MR. Currently, human clinical trials for this therapeutic technology have been initiated, with commercialization planned within two years.

References:

[1] Israel's Mitrassist Medical raises $50 million for medical valve development. Retrieved 2020-12-03, from https://www.calcalistech.com/ctech/articles/0,7340,L-3878551,00.html

[2] Israeli medical valve co MitrAssist raises $50m Retrieved 2020-12-03, from https://en.globes.co.il/en/article-israeli-medical-valve-co-mitrassist-raises-50m-1001351613

[3] MitrAssist website Retrieved 2020-12-03, from http://mitrassist.com/default.asp