Magenta Medical is focused on developing miniaturized blood pumps intended to provide minimally invasive support to the native heart during acute episodes of dysfunction. Its lead product, the Elevate™ percutaneous left ventricular assist device (pLVAD), is in clinical trials for at least two indications: high-risk percutaneous coronary interventions (HR-PCI) and cardiogenic shock. The company plans to use the new funding to advance its U.S. clinical programs across multiple mechanical circulatory support (MCS) indications and to pursue FDA approval for the Elevate System in HR-PCI patients. Magenta is led by CEO Dr. David Israeli and is based in Kadima, Israel. The company positions its technology to support patients at risk of dangerously low blood pressure and compromised organ perfusion during acute cardiac events. Magenta Medical is a Kadima, Israel–based company developing miniaturized blood pumps to provide minimally-invasive support to the native heart. Its lead product, the Elevate percutaneous left ventricular assist device, is currently in clinical testing. The company intends to secure FDA approval for at least two indications: patients undergoing high-risk coronary interventions and patients with cardiogenic shock. Magenta plans to use new funding to advance the clinical programs of Elevate in the United States toward its first FDA approval. The company was founded by serial entrepreneurs Professor Ehud Schwammenthal and Yosi Tuval, who previously founded Ventor Technologies. Magenta is led by CEO Dr. David Israeli. Magenta Medical develops a catheter-based flow pump inserted on the venous side to help kidneys eliminate salt and relieve fluid buildup in heart-failure patients. The device delivers therapy for up to 24 hours and does not leave a permanent implant. Company executives say the therapy aims to reduce hospital readmissions and ICU stays tied to deteriorating kidney function. Magenta’s technology is already in clinical trials in Europe, and the current funds will be used to obtain a CE Mark. The firm plans to share European trial data with the FDA to determine a U.S. regulatory pathway and hopes to reach agreement with the agency on that clinical pathway. Magenta was founded in October 2012 by a cardiologist and a mechanical engineer; David Israeli is the company’s CEO. Magenta Medical develops novel therapeutic approaches to the treatment of congestive heart failure. The company is described in the article as pioneering a new therapeutic approach for CHF, a condition characterised as an epidemic in the Western world. Magenta was founded in October 2012 by CEO Prof. Ehud Schwammenthal and mechanical engineer Yosi Tuval and is based in Tel Aviv, Israel. The company raised $4M in seed funding from Pitango Venture Capital. As part of the investment, Pitango partner Dr. David Israeli will join Magenta's board of directors. No additional financial terms or use-of-proceeds details were disclosed in the article.

Total raised

$179M

Funding rounds

4

Latest round

Equity

Latest activity

Jul 2024