Miracor receives additional funding in Series-C closing to expand clinical and commercial activities with the PiCSO Impulse System
Company appoints Olivier Delporte as new CEO
VIENNA, Austria, October 25, 2016 – Miracor Medical Systems GmbH (Miracor)
announced today that it has raised additional funding as part of its Series-C financing
round. The recent closing was led by Peppermint VenturePartners (Peppermint), who
invested via the Peppermint CBF-1 fund (Berlin, Germany) with existing investors also
participating, bringing the total amount raised in Series-C to € 7 Million. The company
seeks to complete Series-C with a further € 8 Million.
“Miracor has reached important milestones in recent months and we are impressed with
the company’s performance and the latest clinical data on the PiCSO Impulse System,
which show statistically significant reductions in infarct size and improvements in cardiac
function after acute myocardial infarction (heart attack, AMI) compared to control
patients,” said Magnus Holm, PhD, Venture Partner at Peppermint. “With AMI being
the single biggest contributor to the growing incidence of heart failure, its effective
treatment remains a huge clinical need, despite recent developments in percutaneous
coronary interventions. Miracor is targeting this important clinical and economic need by
improving the outcomes of patients following AMI. We are delighted to be involved with
this exciting company and look forward to now supporting Miracor in its activities.”
Miracor’s PiCSOAMI Impulse System aims to improve outcome of patients with acute
myocardial infarction by improving myocardial perfusion during percutaneous coronary
intervention (PCI). PiCSO therapy is provided during the stenting procedure and
intermittently increases pressure in the coronary venous system which leads to an
improved microcirculatory flow and improved perfusion of the infarcted area, ultimately
leading to a smaller residual infarct size after AMI compared to non PiCSO treated
patients. Decreased residual infarct size after AMI has shown to be directly correlated to
reduced mortality and hospitalizations for heart failure.
“This additional investment enables us to accelerate our plans to start first clinical
activities in the US. We are proud to have Peppermint join our existing investors and
look forward to a fruitful cooperation,” commented Werner Braun, PhD, Chairman of
the Board of Miracor. “With the most recent appointment of Olivier Delporte as new
CEO of Miracor and his long-standing track record of successful management in the
medical device field, the company is extremely well positioned to deliver on our
ambitious clinical and commercial objectives,” he continued.
“Reducing infarct size is the remaining challenge in the treatment of AMI and Miracor
has generated outstanding data with the PiCSO Impulse System in ongoing studies. I’m
very excited to join Miracor at this time and we all look forward to presenting these
important data at the upcoming TCT congress in Washington in October,” says Olivier
Delporte, new CEO of Miracor.
Olivier Delporte is an international senior executive with 20 years of sales, marketing
and general management experience, primarily in the medical devices industry.
Prior to joining Miracor, he held senior management positions with PneumRx (acquired
by BTG in 2015), Tryton Medical, Guidant, and Abbott Vascular.
Olivier earned a Masters Degree in Business from the Université Catholique de Louvain,
Belgium, and an M.B.A. from the University of Chicago.
About Peppermint VenturePartners
Peppermint VenturePartners is a private venture capital firm based in Berlin, investing in
early-stage companies in the healthcare sector. It focuses on companies that stand out
as a result of their innovative ideas in the fields of medical technology, diagnostics and
digital health, as well as biomedical platform technologies.