4C Medical Technologies Announces $17 Million Series A Financing
MINNEAPOLIS, MN, September 10, 2018 – 4C Medical Technologies, Inc. (4C Medical), a privately-held medical technology company focused on the development of minimally invasive therapies for structural heart disease, today announced that it completed a private placement of shares of its Series A Preferred Stock last week, resulting in total gross proceeds of approximately $17 million.
4C Medical 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.
“The additional capital from our Series A financings significantly bolsters our ability to fund the next critical phases of our AltaValve development program, including a transition to the clinical phase of the company” said Robert J. Thatcher, President and CEO of 4C Medical.
The Series A Preferred Stock financing was led by an undisclosed multi-national strategic investor and included participation from existing investors.
About 4C Medical Technologies, Inc.
4C Medical is a medical device company developing minimally invasive technologies for structural heart disease, focusing initially on mitral regurgitation
(MR) therapy and subsequently on tricuspid regurgitation therapy. The company’s AltaValve is the first MR treatment with supra-annular positioning
and atrial-only fixation. It preserves the native mitral valve and left ventricle, eliminating known issues associated with transcatheter mitral valve
replacement technologies which rely on placement and fixation in the native mitral annulus and left ventricle.
Robert Thatcher Chief Executive Officer
Jim Flaherty Chief Financial Officer