CardioMech Raises New Funding for Transcatheter Mitral Chordal Repair Device

January 2, 2024—CardioMech AS announced it has closed on a $13 million funding round.

CardioMech is developing a transfemoral, transseptally delivered mitral valve chordal repair device as a first-line therapy for degenerative mitral regurgitation. The Norway-based company is developing the technology in Fridley, Minnesota.

According to the company, the CardioMech device is an artificial chord designed to reduce or eliminate regurgitation and to restore the native anatomy. The catheter-based therapy is intended to be an alternative therapy option both for patients eligible for open-heart surgery and for patients considered surgically ineligible.

CardioMech received financial support from existing and new investors, including a nondisclosed strategic investor. The company advised it has raised $42 million to date.