Coramaze Receives Funding for Development of Mitramaze TMVR System

September 1, 2015—Coramaze Technologies GmbH, a German medical device company that is developing the Mitramaze transcatheter mitral valve replacement (TMVR) system, announced the closing of a €4.5 million ($5.15 million) series A financing round.

The Mitramaze TMVR device is being developed for treatment of inoperable patients with severe functional mitral regurgitation. The company will use the proceeds of the round to advance the Mitramaze implant design concept into a first-in-human clinical investigational study in 2016, and a subsequent feasibility trial to support European CE Mark approval.

According to the company, the Mitramaze TMVR system includes an enhanced coaptation design, a flexible spacer, and a customized delivery catheter system specifically designed for the transfemoral arterial approach, delivery, and implantation of the device. The self-expanding implant design allows for an atraumatic anchoring in the left atrium without the need to include adjacent myocardial tissue structures.

Elron Electronic Industries Ltd, an Israeli holding company, led the financing round. Current investors High-Tech Gründerfonds and SeedCapital Dortmund joined this funding round alongside a pool of private investors.