Home Breaking News California based Medtech startup Moray Medical secures US $ 3.3 million...

California based Medtech startup Moray Medical secures US $ 3.3 million

Moray Medical, a California (United States) based startup that seeks to improve the lives of people suffering from heart problems through its innovative technology, announced on 12th April 2021 that it has raised US $ 3.3 million in its seed funding round. The round was led by Heal Capital and 415 Capital Management.

Investors: 415 Capital Management is Bayern, Germany, based venture capital firm. It primarily invests in early and development stage promising medtech companies in Europe, the United States and Israel. Most of its investments are directed towards technologies that help address cardiovascular diseases, the leading cause of deaths worldwide. Its portfolio includes companies such as Supira Medical, Corflow therapeutics, Vascular and more.

Heal Capital is similarly a Germany based venture capital fund that mainly invests in cutting-edge medtech startups. It is one of Europe’s leading investment funds with an investment value of around EUR 100 million.

Moray Medical is currently focused on growing itself and its product. Further, it will be looking forward to entering the rapidly growing transcatheter mitral valve repair market.

Logo of Moray Medical

About Moray Medical:

Moray Medical was founded in the year 2015 by Mark Barrish and Phillip Laby. It seeks to improve the lives of millions of people suffering from leaky heart valves by equipping doctors with its proprietary microfluidic robotics.

Heart mitral valve repair, says the company, has not reached the masses. While traditional open-heart surgeries are the standard methods of care, they are highly invasive and risky. On the other hand, transcatheter mitral valve procedures (access through veins) are minimally invasive but difficult to perform.

Moray Medical seeks to simplify the latter (percutaneous interventions) for cardiologists of all skill levels. Millions of people, according to the company, would benefit from its cost-effective and easy to learn and deliver system.

What the CEO has to say:

“While transcatheter edge-to-edge repair (TEER), or clip therapy, is rapidly becoming the new clinical standard of care, the complexity and learning curve associated with current devices means that the vast majority of needy patients are being left untreated. Our platform is aimed at empowering interventionalists at all skill levels to carry out these procedures in a cost-efficient manner to ensure that millions of additional sick patients get the life-saving treatment they deserve.”—Mark Barrish, co-founder and CEO of Moray Medical.

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