4C Medical has received approximately US$9 million in unsecured convertible promissory notes. The company is focused on the development of minimally invasive therapies for structural heart disease. According to a press release, it intends to use the proceeds from the financing to fund the continued development of its transcatheter technology for the treatment of mitral regurgitation.
The financing was led by an investment of US$3.5 million by Anges Québec, the largest angel network in Canada.
4C Medical is developing transcatheter mitral regurgitation therapy intended to preserve the native mitral valve and left ventricle using a supra-annular, atrial-only fixation technology. This novel technology is designed to eliminate the known issues of current transcatheter mitral valve replacement technologies, which rely on placement and fixation in the native mitral annulus and/or the left ventricle.