4C Medical Technologies, a medical device company specializing in therapies for structural heart disease, just closed its Series D financing round resulting in gross proceeds of up to $175 million, led by Boston Scientific Corporation.
The company said the financing will be used to accelerate the clinical development and commercialization of the AltaValve System, the company's next generation transcatheter mitral valve replacement (TMVR) technology.
The proceeds from this financing will primarily be used to support the company's ongoing global pivotal trial ATLAS (A Transseptal Left Atrial System for Treatment of Mitral Regurgitation), in the U.S. and Europe. 4C Medical commenced enrollment of the ATLAS trial in the U.S. in October 2024. The ATLAS pivotal trial is designed to assess the safety and effectiveness of the AltaValve System in treating patients with moderate-to-severe or severe mitral regurgitation (MR) who are unsuitable for surgery or transcatheter edge-to-edge repair.
"This financing and participation of Boston Scientific is timely as we continue enrollment in our global ATLAS pivotal trial," said Jeff Chambers, M.D., chairman of the board at 4C Medical. "With a strong management team and the trial leadership, this financing strategically positions us to accelerate our progress towards device commercialization."
MR is the most common valvular heart disease affecting nearly 10 percent of Americans aged 75 years and older and occurs when the mitral valve leaflets do not close properly, allowing blood in the left ventricle to leak back into the left atrium. It is a progressive disease and if left untreated, MR can lead to atrial fibrillation, pulmonary hypertension, heart failure and death.
