4C Medical Technologies, a Minneapolis-based medical technology company focused on the development of minimally invasive therapies for structural heart disease, completed a private placement of shares of its Series A Preferred Stock earlier this week, resulting in total gross proceeds of approximately $17m.
The Series A Preferred Stock financing was led by an undisclosed multi-national strategic investor and included participation from existing investors.
The company intends to use the combined proceeds from its Series Seed and Series A financings to fund the continued development of its AltaValveTM Transcatheter Mitral Valve Replacement (TMVR) device.
Led by Robert J. Thatcher, President and CEO, 4C Medical is a medical device company developing minimally invasive therapies for structural heart, focusing initially on mitral regurgitation (MR) therapy and subsequently on tricuspid regurgitation (TR) therapy.
The company’s implant device candidate is designed to preserve the native mitral valve and left ventricle, eliminating all the known issues associated with transcatheter mitral valve replacement technologies in development today, which rely on placement and fixation in the native mitral annulus and left ventricle.