What is Micro Interventional Devices?
Micro Interventional Devices (MID) is dedicated to the design, manufacturing, and commercialization of cutting-edge catheter-based technologies targeting structural heart disease. Their primary innovation, the MIA-T Percutaneous Tricuspid Annuloplasty System, presents a compelling alternative to conventional open-heart surgery. This advanced system is engineered to enhance clinical outcomes, reduce operative times, and simplify procedures for surgeons and healthcare networks. MID's commitment to Transcatheter Cardiac Repair (TCR) aims to significantly improve the quality of life for individuals with cardiac conditions.
How much funding has Micro Interventional Devices raised?
Micro Interventional Devices has raised a total of $24.3M across 6 funding rounds:
Private Equity
$250K
Debt
$100K
Series B
$3.5M
Series D
$20M
Debt
$150K
Debt
$262K
Private Equity (2012): $250K with participation from The Life Sciences Greenhouse of Central Pennsylvania
Debt (2012): $100K led by Ben Franklin Technology Partners of Northeastern Pennsylvania
Series B (2013): $3.5M supported by Originate Ventures and Battelle Ventures, LP
Series D (2019): $20M featuring OSCOR
Debt (2020): $150K backed by PPP
Debt (2021): $262K with participation from PPP
Key Investors in Micro Interventional Devices
Originate Ventures
Originate Ventures is an early-stage venture capital firm based in Bethlehem, PA, focused on investing in emerging companies primarily located in Pennsylvania and New Jersey. The firm emphasizes supporting its portfolio companies beyond financial investment by sharing entrepreneurial experiences and providing guidance on various challenges.
Battelle Ventures, LP
Battelle Ventures, L.P., and its affiliate fund, Innovation Valley Partners (IVP), have a combined $255 million under management to create and accelerate the development of early-stage technology companies with breakthrough solutions to key market problems.
The Life Sciences Greenhouse of Central Pennsylvania
LSG Investments is an evergreen venture fund focused on advancing healthcare by providing early-stage capital and operational expertise to life sciences technologies. They aim to strengthen Pennsylvania's life sciences ecosystem and improve global healthcare outcomes by investing between $250,000 and $500,000 in innovative companies.
What's next for Micro Interventional Devices?
The recent major strategic investment signifies a pivotal moment for Micro Interventional Devices, likely enabling the company to accelerate its product development pipeline, scale manufacturing operations, and expand its market reach. This substantial backing, within the context of enterprise-level funding, suggests MID is poised for significant growth and further innovation in the rapidly evolving field of transcatheter cardiac repair. The company is expected to leverage this capital to further solidify its position as a leader in minimally invasive structural heart disease treatments.
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