Magenta Medical Overview
Magenta Medical is developing a catheter-mounted blood pump to treat hospital-admitted patients with acute heart failure. The company's product, the Elevate percutaneous Left Ventricular Assist Device, is a low-profile, high-flow arterial pump intended for temporary mechanical circulatory support of patients undergoing high-risk coronary interventions and for the treatment of patients admitted with cardiogenic shock. The device is currently in clinical trials.
Cumulative Funding Raised Over Time ($)
Latest News
growth-positive
Magenta Medical nets $105M to secure FDA approval for world's smallest heart pump | CTech
Magenta Medical, the developer of the worlds smallest heart pump, Elevate, has raised $105 million in a financing round led by Novo Holdings. The funding 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 Elevate System. The round also saw participation from 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. This takes the companys total funding to date to $183 million.
Investment
growth-positive
Magenta Medical raises $55 million for world's smallest heart pump | CTech
Magenta Medical, a medical device company, has raised $55 million in a financing round led by OrbiMed. The funding will be used to advance the clinical programs of the companys heart pump product in the United States towards its first FDA approval. The companys device is a percutaneous Left Ventricular Assist Device (pLVAD) that is inserted through the groin and expanded for activation inside the left ventricle. It provides temporary mechanical circulatory support and allows the heart to rest and the patient to recover. Magenta has completed a first-in-human study and is preparing to launch its clinical programs in the U.S.
InvestmentExpand
growth-positive
Israeli startup develops blood pump to help treat heart failure
Magenta Medical, an Israeli developer of a miniaturized blood pump to help treat heart failure, has raised funds from investors led by venture capital firm New Enterprise Associates (NEA). The financing will be used to advance the development of the company’s two products and support the startup toward its first FDA approval. Heart failure is a global public health epidemic, and Magenta Medical aims to improve outcomes for patients suffering from heart failure. The companys products include a Transcatheter Renal Venous Decongestion System and a Left Ventricular Assist Device (pLVAD). Magenta Medical was founded by Prof. Ehud Schwammenthal and Yosi Tuval, who previously founded Ventor Technologies.
Investment
growth-positive
NEA makes first Israeli investment in Magenta Medical
Magenta Medical, an Israeli heart failure treatment solution developer, has completed a financing round led by US venture capital fund New Enterprise Associates (NEA). The round is estimated to be worth tens of millions of dollars. The company has developed a device to improve blood flow to the kidneys and their functioning in cardiac patients. The funds raised will be used to obtain approval from the US Food and Drug Administration (FDA) for one of the companys two products. Magenta Medicals technology has the potential to greatly advance the field of mechanical circulatory support.
Investment
growth-positive
Magenta Medical, Developer of Novel Heart Failure Therapies, Secures $15 Million in Series B Financing
Magenta Medical, a medical device company, has successfully closed a $15M series B financing round. The investors include Abiomed Inc., Pitango Venture Capital, JAFCO Co., Ltd., and a group of industry luminaries and cardiovascular experts. The funding will allow Magenta to expand and accelerate its clinical program for the treatment of acute heart failure. Prof. Jacques Seguin, a cardiac surgeon and entrepreneur, is joining Magentas Board of Directors. The company was founded in 2012 by Prof. Ehud Schwammenthal and Mr. Yosi Tuval, who were also the founders of Ventor Technologies, a former Pitango portfolio company that was acquired by Medtronic Inc. for $325 million in 2009.
Investment
| Sector | Health Tech & Life Sciences |
Funding
| Total funding | $224.9M |
| Last funding | $105M |
| Stage | E |
| Rounds | 5 |
| Investors | 12 |
Team Members
4
Employees: 51-200
Web & Social Links
| Website | magentamed.com |
Locations
HaOfe St 1, Kadima Zoran, Israel
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