Magenta Medical, a Tel Aviv, Israel-based developer of novel heart failure therapies, secured $15m in Series B financing.
The round was led by Abiomed Inc. and Pitango Venture Capital, with participation from Jafco and a group of private investors led by Prof. Jacques Seguin. Following the closing, Prof. Seguin is joining Magenta’s Board of Directors.
The current funding will allow the company to expand and accelerate the clinical program on the path to approval in Europe and a pivotal study in the U.S.
Founded in October, 2012 by Prof. Ehud Schwammenthal (Chief Medical Officer) and Mr. Yosi Tuval and led by newly appointed CEO Dr. David Israeli, Magenta Medical is developing novel therapeutic approaches to the management and treatment of Acute Heart Failure.