Other new investors include Viking Global Investors and RA Capital Management Funding will support Magenta's clinical programs in support of FDA approval for Elevate, the world's smallest heart pump KADIMA, Israel , July 23, 2024 /PRNewswire/ -- Magenta Medical , developer of ElevateTM, the world's smallest heart pump, has closed a $105M financing round led by global healthcare investment firm Novo Holdings. New investors Viking Global Investors and RA Capital Management, and existing investors OrbiMed, New Enterprise Associates (NEA), JVC Investment Partners, and ALIVE - Israel HealthTech Fund, also participated in this round. The financing will be used to advance the company's U.
S. clinical programs in multiple mechanical circulatory support (MCS) indications and to secure the first FDA approval for the ElevateTM System in patients undergoing high-risk percutaneous coronary interventions (HR-PCI). "Magenta's technology stands at the forefront of innovation in the MCS field and has the potential to significantly improve outcomes in patients with severe cardiovascular conditions," said Eric Snyder , Partner, Venture Investments, Novo Holdings US.
"We look forward to supporting Magenta's team in bringing better care to even more patients in need of mechanical circulatory support." Magenta Medical's CEO, Dr. David Israeli , said, "Magenta is thrilled to add these exceptional MedTech investors to its mission of disrupting the MCS space.
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