Cardiosolutions Receives $8M Minority Investment from Sorin
Cardiosolutions, Inc., a West Bridgewater, MA-based developer of a percutaneous system to treat patients with moderate to severe mitral valve regurgitation, has received an $8m minority investment.
The funding was provided by Sorin Group (Reuters Code: SORN.MI), a global medical device company that specializes in the treatment of cardiovascular disease, which joins STD Med and BioVentures Investors.
The company intends to use Sorin’s investment for on-going product development and clinical testing of its technology, which consists of a proprietary catheter delivery system and an implant, the Mitra-Spacer™. This implant is designed to fill the void created by a dilated annulus or deteriorating valve mechanism providing a sealing surface for the leaflets of the mitral valve, thus reducing the degree of mitral regurgitation in patients.
Under the terms of the agreement, Sorin also has an option to acquire Cardiosolutions in the future.
The company is led by President and CEO Steven Tallarida.