BioVentrix raises $1.2m

BioVentrix raised $1.2 million in a new round of financing through the sale of convertible notes, according to an SEC filing posted this week.

BioVentrix produces the Revivent TC transcatheter ventricular enhancement system designed to treat the left ventricle following a myocardial infarction or heart attack.

The Revivent is designed to eliminate the need for cardiopulmonary bypass or incisions in the heart by enabling the placement of small titanium anchors along the heart’s outer surface and along one of the inside walls, according to Bioventrix. The anchors are then pulled toward each another in a way that excludes scarred and non-functioning portions of the heart wall.

Money in the round came from 12 anonymous sources, according to the SEC filing, as the company looks for another $5 million before closing the round. The company has not yet stated how it plans to use funds raised in the round.

Last month, BioVentrix said it won CE Mark approval in the European Union for its Revivent TC.

In May, BioVentrix said it won FDA investigational device exemption approval to initiate a pivotal trial of its Revivent TC transcatheter ventricular enhancement system.

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