PR Newswire01.18.21
4C Medical Technologies Inc. (4C Medical), a privately-held medical technology company focused on the development of minimally invasive technologies for structural heart disease, has completed an over-subscribed convertible note financing in which it has raised $10 million in gross proceeds. The financing was led by a China-based venture firm.
4C Medical intends to use the net proceeds from the financing to continue the development of its AltaValve transcatheter mitral valve replacement (TMVR) device as well as a fully recapturable and retrievable transseptal delivery system that is planned to be introduced in the company's ongoing early feasibility study (EFS) in multiple geographies worldwide. The fully recapturable and retrievable feature, combined with the transseptal approach, is intended to increase the safety of the procedure, making it more appealing to a broader number of physicians and patients.
"We believe the AltaValve transcatheter mitral valve replacement technology, with its unique design residing above the native mitral valve, has potential to be applicable to a broader patient population as compared to other TMVR devices. The addition of our newest China-based investor reflects 4C Medical's commitment to bring AltaValve to the largest medical device markets in the world," said Robert Thatcher, CEO of 4C Medical.
JC Sun, founder of JCS Consulting LLC, served as the company's strategic business advisor in connection with the offering of the convertible notes in Asia.
4C Medical intends to use the net proceeds from the financing to continue the development of its AltaValve transcatheter mitral valve replacement (TMVR) device as well as a fully recapturable and retrievable transseptal delivery system that is planned to be introduced in the company's ongoing early feasibility study (EFS) in multiple geographies worldwide. The fully recapturable and retrievable feature, combined with the transseptal approach, is intended to increase the safety of the procedure, making it more appealing to a broader number of physicians and patients.
"We believe the AltaValve transcatheter mitral valve replacement technology, with its unique design residing above the native mitral valve, has potential to be applicable to a broader patient population as compared to other TMVR devices. The addition of our newest China-based investor reflects 4C Medical's commitment to bring AltaValve to the largest medical device markets in the world," said Robert Thatcher, CEO of 4C Medical.
JC Sun, founder of JCS Consulting LLC, served as the company's strategic business advisor in connection with the offering of the convertible notes in Asia.