4C Medical Receives Financing to Support Development of AltaValve TMVR Device

December 22, 2020—4C Medical Technologies, Inc., a privately held medical technology company focused on the development of minimally invasive technologies for structural heart disease, announced it has completed an oversubscribed convertible note financing in which it has raised $10 million in gross proceeds.

According to the company, 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 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 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, stated the company.