• 4C Medical Technologies

  Led · Series C · Apr 2022

  4C Medical Technologies develops minimally invasive devices for structural heart disease, initially targeting mitral regurgitation (MR) and later tricuspid regurgitation. The company is developing the AltaValve transcatheter mitral valve replacement (TMVR) technology, which features atrial-only fixation designed to minimize issues tied to annular placement and fixation. 4C plans to use the new funding to advance AltaValve development and to expand the treatable patient population through streamlined procedures. The company is led by newly appointed President & Chief Executive Officer Saravana Kumar, PhD, with Founder and Chairman Dr. Jeff Chambers on the board. Financially, 4C closed a $35M Series C financing to support these development and commercial objectives. The company is based in Minneapolis, MN. 4C Medical Technologies is a privately-held medical device company developing minimally invasive therapies for structural heart disease, focusing initially on mitral regurgitation and subsequently on tricuspid regurgitation. Its lead implant candidate is the AltaValve, a transcatheter mitral valve replacement (TMVR) designed for supra-annular positioning with atrial-only fixation to preserve the native mitral valve and left ventricle. The company is developing a fully recapturable and retrievable transseptal delivery system intended for introduction in its ongoing early feasibility study (EFS) across multiple geographies worldwide. The recapturable and retrievable feature combined with a transseptal approach is intended to increase procedural safety and broaden physician and patient applicability. Financially, 4C completed an over-subscribed $10 million convertible note financing and stated it will use net proceeds to continue development of AltaValve and the delivery system. The company said the addition of a China-based investor reflects a commitment to bring AltaValve to the largest medical device markets worldwide. 4C Medical Technologies is a Minneapolis-based medical device company developing minimally invasive therapies for structural heart disease. Its lead product candidate is the AltaValve transcatheter mitral valve replacement (TMVR) device, designed to preserve the native mitral valve and left ventricle. The company is initially focused on treating mitral regurgitation and plans to subsequently address tricuspid regurgitation. 4C says the AltaValve eliminates known issues associated with TMVR technologies that rely on placement and fixation in the native mitral annulus and left ventricle. Led by President and CEO Robert J. Thatcher, 4C completed a private placement of Series A Preferred Stock that generated approximately $17m in gross proceeds. The company intends to use combined proceeds from its Series Seed and Series A financings to fund continued development of the AltaValve. 4C Medical Technologies, Inc., based in Brooklyn Park, Minn., develops transcatheter technology for the treatment of mitral regurgitation (MR) that preserves the native mitral valve and left ventricle. The company’s novel approach is designed to eliminate known issues of current transcatheter mitral valve replacement (TMVR) technologies that rely on placement and fixation in the native mitral annulus and/or the left ventricle. Leadership includes CEO Robert Thatcher and Founder and Chief Medical Officer Jeffrey Chambers, MD. 4C completed a private placement of unsecured convertible promissory notes resulting in gross proceeds of approximately $9m. The financing was led by a $3.5m investment from Anges Québec. The company intends to use the proceeds to fund continued development of its technology.

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