Miracor raises €4.5m series-B extension

New investors BioMedPartners and AWS Gründerfonds invested alongside existing backer Delta Partners.

Miracor plans to use the fresh capital to expand clinical trials. It also intends to commercialise its pressure-controlled intermittent coronary sinus occlusion (PICSO) impulse system.

With the latest funding round, Miracor has raised €17.5m in venture capital and a further €8m in public funding.

BioMedPartners invested via its BioMedInvest vehicle, which focuses on pharmaceuticals, biotechnology, diagnostics and medical technology. AWS Gründerfonds is backed by the Republic of Austria and Erste Bank, investing up to €3m in early-stage companies.

Previous funding
In June 2008, Earlybird and Delta co-led a €6m series-A into Miracor. The funding was earmarked for additional clinical trials and to gain CE marking for the company's PICSO system.

SHS Gesellschaft für Beteiligungsmanagement led a series-B financing round worth €7m in September 2011. Both previous investors also participated in the round.

Company
Founded in 2008 by Werner Mohl, Miracor Medical Systems is a Vienna-based medical devices company. Its PICSO system is designed to treat patients after a heart attack by increasing blood flow to the affected heart tissue and improving heart function post cardiac arrest.

People
Ludwig Gold is CEO of Miracor. Patrick Burgermeister is a partner at BioMedPartners. Ralf Kunzmann is CEO of AWS.

Advisers
Company – Mummert (Corporate finance).

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• Topics
• DACH
• Early-stage
• Healthcare
• Austria
• Earlybird
• Delta Partners