Micro Interventional Devices Secures $20 Million Series D Funding to Advance Minimally Invasive Cardiac Catheter Technologies

VCBeat (WeChat Official Account: vcbeat) learned from foreign media reports that Micro Interventional Devices announced the completion of a $20 million Series D financing round on March 7, 2019. The round was led by Oscor, with participation from Originate Ventures and LifeSciences Greenhouse.

According to the official website of Micro Interventional Devices, the funds from this round of financing will be used for two purposes: first, for the research and development of micro-interventional technologies and cardiac catheters; second, for the promotion and marketing of Micro Interventional Devices’ products.

Under the financing agreement, Micro Interventional Devices will obtain a license to use Oscor’s catheter technology, while Oscor will secure exclusive rights to utilize the tricuspid and mitral regurgitation treatment devices developed by Micro Interventional Devices. Additionally, as part of the transaction, Thomas Osypka, President and Chief Executive Officer of Oscor, will join the Board of Directors of Micro Interventional Devices.

Micro Interventional Devices is a medical device company headquartered in Pennsylvania. The company is developing micro-interventional technologies designed to transform the inherent approaches to percutaneous and minimally invasive structural heart repair procedures. According to official information from Micro Interventional Devices, the micro-interventional technologies developed by the company have achieved a breakthrough in avoiding extracorporeal circulation during medical procedures by anchoring to human soft tissue.

“We are pleased to have reached this agreement with Oscor. Under the guidance of Chief Technology Officer Thomas, Oscor has been delving into catheter technology for more than twenty years,” said Michael Whitman, Chairman, President, and CEO of Micro Interventional Devices. “Collaborating with Oscor will enable Micro Interventional Devices to rapidly develop micro-interventional technologies that meet our expectations, thereby achieving CE Mark certification. Furthermore, with ample funding, we are confident that Micro Interventional Devices will also achieve strong results in product commercialization.”

“We are pleased to collaborate with Micro Interventional Devices to develop micro-interventional technologies. Oscor’s core philosophy is to help the healthcare industry improve overall efficiency and benefit more patients. In this regard, the philosophy of Micro Interventional Devices aligns perfectly with ours. We believe that through continuous communication and collaboration, both parties will reach greater consensus and achieve notable success,” stated Oscor officially.

Oscor is a medical device company headquartered in Florida, United States, founded in 1982. The company specializes in the development, manufacturing, and sales of various highly specialized implantable cardiac pacemakers.

Originate Ventures is a venture capital firm headquartered in Pennsylvania, United States. The firm primarily invests in healthcare, information technology, software, biometrics, big data research, and related sectors.

LifeSciences Greenhouse was established in 2002 and is headquartered in Pennsylvania, USA. The organization collaborates with a range of social institutions, including local universities, research institutes, medical centers, data agencies, and various companies. LifeSciences Greenhouse is committed to providing financial support to technology-driven companies.

(Compiled by Hu Xuan)