Ming et al. in €25m series-D round for Miracor Medical

Francesca Veronesi
05 January 2018

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Chinese GP Ming Capital and Belgian public investors have joined previous backers in a €25m series-D round for Austrian medical device company Miracor Medical, which will relocate to Belgium.

The financing includes equity and debt. Belgian public investors SFPI, SRIW and Meusinvest also granted a non-dilutive cash advance.

Previous investors that committed to the new round of funding include Earlybird Venture Capital, Delta Partners, SHS Gesellschaft für Beteiligungsmanagement, Biomed Invest and Peppermint Venture Partners.

The new capital will be used to further develop and commercialise PiCSO Impulse System, a technology platform designed to improve clinical outcome of patients with impaired cardiac function.

Previous funding
In 2011, SHS Gesellschaft für Beteiligungsmanagement led a series-B financing round worth €7m, with the support of Earlybird and Delta Partners.

A series-B extension took place in 2015, with new investors BioMedPartners and AWS Gründerfonds investing €4.5m alongside existing backer Delta Partners.

In 2016, new investor Peppermint Venture Partners committed to a €7m series-C round alongside existing investors.

Company
Founded in 1995, Miracor Medical is a European medical device company dedicated to improving the clinical outcome of patients with impaired cardiac function. It is currently moving its headquarters from Vienna to Awans. The company has a staff of 14.

People
Ming Capital.- Jack Bing Yang (managing partner).
Miracor Medical - Olivier Delporte (CEO).
Peppermint - Magnus Holm (venture partner).