Industry Trend Analysis - Miracor Medical Systems To Benefit From Move To Belgium - 29 JAN 2018

BMI View: Miracor Medical System s ' financing round will advance development of its therapy system for acute myocardial infarction (AMI). Continued positive clinical trial data will be critical to success of the therapy, and Mi racor Austria's relocatio n to Belgium and merger with Mi racor Medical will enable the combined company to benefit from Belgium's attractive medical device market.

Miracor Medical Systems ( Miracor Austria) and Miracor Medical SA ( Miracor Medical) have announced the closing of EUR5mn (USD6mn) as part of a series D financing round. The new capital will be used to further develop and commercialise the pressure-controlled intermittent coronary sinus occlusion ( PiCSO) impulse system, which is intended for the treatment of acute myocardial infarction (AMI).

The round was led by Ming Capital and co-led by a strategic investor. Also participating in the financing round were the Belgian and Wallonian public investors SFPI, SRIW and Meusinvest, as well as the existing investors Earlybird Venture Capital, Delta Partners, SHS Gesellschaft fur Beteiligungsmanagement, Biomed Invest and Peppermint Venture Partners. The financing includes equity and debt, as well as non-dilutive cash advance granted by Wallonia's Government.

Belgium Market Is Attractive
Austria And Belgium Medical Device Market (EURmn), 2016-2026
Note: e/f = BMI estimate/forecast. Source: BMI

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