Harpoon Medical Inc. Announces $3.75M Series A Financing
Harpoon Medical Inc. Announces $3.75M Series A FinancingHarpoon Medical Has Received More than $3M of its Series A Financing to Fund the Initial Clinical Evaluation of the Company’s Minimally Invasive Mitral Valve Repair Device
STEVENSVILLE Md. Sept. 10 2014 /PRNewswire/ — Harpoon Medical Inc. a medical device company focused on the development and commercialization of a minimally invasive beating heart mitral valve repair technology announced today that the company has successfully raised $3.2M of new capital and expects to complete the round over the coming weeks.The Series A financing was led by Epidarex Capital in order to advance Harpoon’s innovative technology into the clinic and expand the company’s research and development efforts.
“We are very pleased with the results of our Series A financing because it gives Harpoon Medical the resources necessary to advance the technology from an innovative concept into the clinic” said Bill Niland CEO of Harpoon Medical Inc. and serial healthcare entrepreneur.The round was increased to accommodate strong demand from investors that include the Maryland Venture Fund the Abell Foundation medical device executives doctors and successful business executives in the Maryland area.”When you have the opportunity to put together a high caliber syndicate of investors who can help you with more than just capital you find a way to accommodate the demand.”
“As an early stage life science investor we look for capital efficient companies like Harpoon Medical where our investment can help the company achieve a major milestone” said Kyp Sirinakis a Managing Partner at Epidarex Capital.”We were impressed with Harpoon Medical’s device for beating heart mitral valve repair the quality of the management team and what the company has accomplished in less than a year.The goal is to use this infusion of capital to accelerate the development process so that the Harpoon device can become a commercial reality and help the millions of patients suffering from mitral valve disease.”