Percutaneous Valve Technologies receives $14 million cash infusion
Israeli private medical technology company Percutaneous Valve Technologies (PVT) has completed a Series B financing totaling $14 million with two leading medical device companies, Medtronic, and Boston Scientific Corporationand continued support from its venture investors, Oxford Bioscience Partners and Medica Venture Partners.
The company announced the addition of two new directors; Paul LaViolette, Senior Vice President and Group President, Cardiovascular for Boston Scientific Corporation, and a director, to be named by Medtronic.
PVT is a privately held medical technology company developing an innovative, percutaneous approach for delivering heart valves to treat late-stage aortic stenosis. This less invasive device, designed by PVT, is a proprietary blend of balloon-expandable stent technology with a bioprosthetic valve made from biological tissue.
The procedure deploys the stent across the old valve, holding it permanently open allowing for replacement of the old stenotic valve with a new one, thus removal of the failing valve is not required. It is designed to be delivered in a cardiac catheterization laboratory under local anesthesia, using fluoroscopic guidance, thereby avoiding general anesthesia and highly invasive open-heart surgery techniques currently used in valve replacement. — (menareport.com)
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