Magenta Medical Closes $55M Funding Round

CEO Dr. David Israeli
CEO Dr. David Israeli

Magenta Medical, a Kadima, Israel-based company dedicated to the development of miniaturized blood pumps, raised $55M in funding.

The round was led by OrbiMed, with participation from existing investors New Enterprise Associates (NEA), Pitango VC, and ALIVE – Israel HealthTech Fund.

The company intends to use the funds to advance the clinical programs of its product in the United States towards its first FDA approval.

Founded by two serial entrepreneurs, Professor Ehud Schwammenthal and Mr. Yosi Tuval, who previously founded Ventor Technologies – a medical device company that was acquired by Medtronic in 2009, and led by CEO Dr. David Israeli, Magenta Medical is dedicated to the development of miniaturized blood pumps intended to provide minimally-invasive support to the native heart during acute episodes of dysfunction that could lead to dangerously low blood pressure and compromised perfusion of vital organs. Its Elevate percutaneous left ventricular assist device is currently in clinical testing, with the ultimate goal of securing approval for at least two indications: patients undergoing high-risk coronary interventions and patients with cardiogenic shock.

FinSMEs

03/05/2023