Angels invest US$ 3.5 million in 4C Medical
MONTREAL, July 19, 2017 /CNW Telbec/ - Today Anges Québec announced a major investment in 4C Medical Technologies Inc., a company developing minimally invasive therapies for structural heart disease.
With this investment, 4C Medical will have access to over US$ 9 million for the development of its novel valve and delivery catheter for treating mitral regurgitation (MR).
The goal of this project is to develop the first-ever MR treatment that preserves the native mitral valve and left ventricle, using a supra-annular, atrial-only fixation technology. This innovation eliminates known issues with other transcatheter mitral valve replacement approaches that rely on placement and fixation in the native mitral annulus and left ventricle.
Members of the Health and Well-Being Cell at Anges Québec have extensive expertise in the medical arena, as well as a keen interest in health technologies and innovations.
"We're delighted with the interest in our company and our technology, and we appreciate the leadership demonstrated by Anges Québec in this investment round," said Robert Thatcher, president and CEO of 4C Medical. "We're already ahead of schedule on our 2017 targets by two quarters. Given how well things are going, we've decided to get a jump on our 2018 targets. To finance our effort, we announced last May that we planned to increase financing using convertible debt until we reached our US$8million goal. With the support of Anges Québec we exceeded our goal. Proceeds from this round will go toward finalizing the technology to be used in our early human feasibility study in the U.S, and perhaps Japan."
"The asymmetry of the native mitral annulus and the irregular shape of the valve leaflets considerably complicate the development of these technologies, whose size and fixation mechanisms are tributary to unpredictable anatomical characteristics," explained Dr. Jeffrey Chambers, MD, founder and chief medical officer of 4C Medical. Millions of patients have MR, and many don't get proper treatment. Our mission is to develop a treatment that overcomes the problems associated with existing technologies. With the support of our investors, our team is entirely dedicated to this goal"
Mitral regurgitation (MR) is a common heart valve condition affecting nearly 10% of Americans age 75 and over.1 It occurs when mitral valve leaflets don't close properly, and allow blood in the left ventricle to leak back into the left atrium. It is a progressive illness, and if left untreated, can lead to atrial fibrillation, pulmonary hypertension, heart failure, and even death.
"We're very happy to add 4C Medical to our extensive portfolio of medical technology companies," said Stéphane Pilette, Vice President, Investment Support at Anges Québec. "With its seasoned management team and its revolutionary transcatheter mitral valve replacement technology, 4C Medical has everything it takes to solve a serious heart valve condition for which few options are currently available."
About 4C Medical Technologies Inc.
4C Medical Technologies, Inc. is a medical device company developing minimally invasive therapies for structural heart disease, focusing initially on mitral regurgitation (MR) therapy and subsequently on tricuspid regurgitation therapy. The company's unique supra-annular implant is the first MR therapy with atrial-only fixation, thereby eliminating known issues associated with transcatheter MR replacement technologies which rely on placement and fixation in the native mitral annulus and left ventricle.
About Anges Québec
Anges Québec is the largest group of business angels in Canada, with a mission to help its 200+ angel investors make profitable investments in innovative companies in a wide range of industries and in all regions of Quebec. To this end, the organization identifies the best entrepreneurs in innovation ready to start their commercial activities or real estate promotors developing promising new business projects while supporting angel investors believing in their success.
Une version française est disponible en ligne au https://angesquebec.com/fr/nouvelles-activites
1. V. T. Nkomo et al. Burden of valvular heart diseases: a population-based study, Lancet, 2006, 368:1005-11. doi: 10.1016/S0140-6736(06)69208-8.
SOURCE Anges Québec
For further information: Media relations and information: 4C MEDICAL: Robert Thatcher, President and CEO, 4C Medical, 612-600-8951, [email protected]; Jim Flaherty, Chief Financial Officer, 612-599-0650, [email protected]; Anges Québec: Marco Parent, Public Relations Advisor, 514-349-7778, [email protected]