4C Medical Technologies, Inc., a Brooklyn Park, Minn.-based medical technology company, completed a private placement of unsecured convertible promissory notes resulting in gross proceeds of approx. $9m.
The round was led by an investment of $3.5m by Anges Québec.
The company intends to use the proceeds to fund the continued development of its technology.
Led by Robert Thatcher, CEO, and Jeffrey Chambers, MD, Founder and Chief Medical Officer, 4C Medical develops transcatheter technology for the treatment of mitral regurgitation (MR) therapy that preserves the native mitral valve and left ventricle.
This novel technology is designed to eliminate the known issues of current transcatheter mitral valve replacement (TMVR) technologies, which rely on placement and fixation in the native mitral annulus and/or the left ventricle.