Interventional Robotics Startup Moray Medical Secures Seed Financing

January 27, 2021—Moray Medical announced that it has raised $3.3 million in seed funding. Moray is developing the Coral system, an interventional robotics platform powered by microfluidics and an augmented reality digital user interface. The Coral platform is intended to simplify a wide range of minimally invasive cardiovascular interventions, and the company’s initial focus is on transcatheter mitral valve repair.

Mark Barrish, Chief Executive Officer and Cofounder of Moray Medical, commented in the press release, “While transcatheter edge-to-edge repair, or clip therapy, is rapidly becoming the new clinical standard of care, the complexity and learning curve associated with current devices means that the vast majority of needy patients are being left untreated. Our platform is aimed at empowering interventionalists at all skill levels to carry out these procedures in a cost-efficient manner to ensure that millions of additional sick patients get the life-saving treatment they deserve.”

Moray Medical stated that the financing was led by 415 Capital. Azin Parhizgar, PhD—Chairwoman of CVPath Institute in Gaithersburg, Maryland, and 415 Capital’s Senior Venture Partner—has joined Moray’s board of directors. Dr. Parhizgar stated in the announcement, “Moray’s interventional robotics platform is designed to be a disruptive technology that will enable complex three-dimensional structural heart and other interventional procedures to be performed with precision, accuracy, and efficiency. This enablement will be transformative to how such interventional procedures may be performed in the future, in person or remotely.”