New Enterprise Associates Join $105 Million Financing for Novo Holdings
Summary
Magenta Medical, developer of Elevate, the worlds smallest heart pump, has closed a $105M financing round led by global healthcare investment firm Novo Holdings. Together with our existing partners, we are fortunate to have brought together a world-class group of investors that has both the resources and expertise to shepherd Magenta through regulatory approvals and commercial growth.MCS is one of the fastest growing markets in interventional cardiology. Because of these potential advantages, Magentas Elevate System was granted Breakthrough Device Designation by the U.S. FDA for two clinical indications: high-risk percutaneous coronary intervention (HR-PCI) and cardiogenic shock (CS).Magenta completed a U.S. The pump is delivered into the heart fully sheathed, over a guidewire, through the aorta, and across the aortic valve.Employing standard catheterization techniques and equipment for placement provides important advantages in terms of ease-of-use, safety, physician access, and vascular access closure.Prior to activation, the device self-expands inside the heart, and the flow through the pump is adjusted based on the clinical circumstances of the patient, up to the entire cardiac output of an adult (> 5 L/min of mean flow at physiological blood pressures). In addition, it manages a broad portfolio of Capital Investments, including equities, bonds, fixed income, real estate, and infrastructure assets.As of year-end 2023, Novo Holdings had total assets of EUR 149 billion.