Miracor receives additional funding to expand clinical and commercial activities with the PiCSO impulse system

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PiCSO
PiCSO

Miracor Medical Systems has raised additional funding as part of its Series-C financing round. The recent closing was led by Peppermint VenturePartners (Peppermint), who invested via the Peppermint CBF-1 fund (Berlin, Germany) with existing investors also participating, bringing the total amount raised in Series-C to € 7 Million. The company seeks to complete Series-C with a further € 8 Million.

Miracor’s PiCSO AMI Impulse System aims to improve outcome of patients with acute myocardial infarction by improving myocardial perfusion during percutaneous coronary intervention (PCI).

A press release reports that PiCSO therapy is provided during the stenting procedure and intermittently increases pressure in the coronary venous system, which leads to an improved microcirculatory flow and improved perfusion of the infarcted area, ultimately leading to a smaller residual infarct size after acute myocardial infarction compared to non PiCSO treated patients. Decreased residual infarct size after acute myocardial infarction has shown to be directly correlated to reduced mortality and hospitalisations for heart failure.

Magnus Holm, venture partner at Peppermint, comments: “Miracor has reached important milestones in recent months and we are impressed with the company’s performance and the latest clinical data on the PiCSO Impulse System, which show statistically significant reductions in infarct size and improvements in cardiac function after acute myocardial infarction compared to control patients. With acute myocardial infarction being the single biggest contributor to the growing incidence of heart failure, its effective treatment remains a huge clinical need, despite recent developments in percutaneous coronary interventions. Miracor is targeting this important clinical and economic need by improving the outcomes of patients following acute myocardial infarction. We are delighted to be involved with this exciting company and look forward to now supporting Miracor in its activities.”

Miracor has also announced that it has appointed Olivier Delporte as its new chief executive officer. He is an international senior executive with 20 years of sales, marketing and general management experience, primarily in the medical devices industry. Prior to joining Miracor, Delporte held senior management positions with PneumRx (acquired by BTG in 2015), Tryton Medical, Guidant, and Abbott Vascular. He says: “Reducing infarct size is the remaining challenge in the treatment of acute myocardial infarction and Miracor has generated outstanding data with the PiCSO Impulse System in ongoing studies. I am very excited to join Miracor at this time and we all look forward to presenting these important data at TCT.”