Norwegian medical device startup CardioMech has raised $13 million in new capital, bringing its total funding to $42 million. The company plans to use the funds to advance its device aimed at treating degenerative mitral valve disease. The device involves inserting an artificial chord into the heart to reduce or eliminate regurgitation, offering a less invasive and uncomplicated alternative to open-heart surgery. CardioMech’s device is unique in that it does not preclude the use of other devices in the future, making it a “first-line therapy” according to CEO Rick Nehm. The company expects to begin enrolling patients in an FDA early feasibility study in the first quarter of this year.
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CardioMech Snags $13M For Its Mitral Valve Repair Tech
