Financing Will Support Commercialization of Miracor Medical's PiCSO Impulse System
September 10, 2018—Miracor Medical SA announced the final closing of a Series D financing round of €30 million, which will be used to further develop and commercialize the company's PiCSO Impulse system.
PiCSO therapy is provided during percutaneous coronary intervention in patients experiencing acute myocardial infarction (AMI). The system improves coronary myocardial perfusion by intermittently occluding the coronary sinus outflow, resulting in improved perfusion of the infarcted area. Use of the PiCSO Impulse system reduces the infarct size after AMI. The PiCSO Impulse system is currently not commercially available.
According to the company, new data from the physician-sponsored Oxford Acute Myocardial Infarction–Pressure-Controlled Intermittent Coronary Sinus Occlusion (OxAMI-PiCSO) study showed that the use of the PiCSO Impulse system is associated with an early improvement of coronary microvascular function. PiCSO therapy accelerates the microcirculatory recovery, resulting in significantly lower index of microcirculatory resistance at 24 to 48 hours when compared to controls, leading to overall infarct size reduction.
The data were presented by Giovanni Luigi De Maria, MD, at the 2018 EuroPCR conference held May 22–25 in Paris, France. The study was simultaneously published online by Dr. De Maria et al in EuroIntervention.
The Series D financing round was led by Ming Capital (Shenzhen, China) and co-led by a strategic investor. Participating new investors include Belgian alternative investment fund Quest for Growth, and participating existing investors include Ming Capital, SFPI, and Meusinvest. Miracor, which has its headquarters in Awans, Belgium, noted that its technical and clinical research programs are also supported by a financing program of the DGO6 of the Walloon Government.