Magenta Medical ltd, a Tel Aviv, Israel-based company that develops treatments for congestive heart failure, has raised $4m in seed funding from Pitango Venture Capital.
Founded in October, 2012 by CEO Prof. Ehud Schwammenthal (cardiologist) and Mr. Yosi Tuval (mechanical engineer), Magenta is pioneering a novel therapeutic approach to the treatment of Congestive Heart Failure (CHF), which has been described as an epidemic in the Western World, afflicting approximately 5.7 million people in the U.S. alone, with 670,000 new cases diagnosed annually (clich here).
In conjunction with the investment, Dr. David Israeli, Partner at Pitango, will join the company’s Board of Directors.
FinSMEs
03/12/2012