Austrian Miracor Medical Systems Secures €7 million in funding

Private Austrian medical devices company Miracor Medical Systems has secured EUR 7 million (USD 10 million) in the first closing of series B funding round. Existing investors Earlybird and Delta Partners along with German venture capital firm SHS Gesellschaft für Beteiligungsmanagement and Austria Wirtschaftsservice (AWS) supported the first closing while approvals for the second closing from other European and potential new investors are awaited. Miracor has managed to raise EUR 14.9 million (USD 21.3 million) in venture capital funding and grants since its inception in May 2008.

Miracor Medical Systems GmbH (www.miracormedical.com)
Miracor Medical Systems GmbH is a privately held company based in Vienna, Austria and is engaged in the commercialization of a unique and potentially disruptive technology PICSO® for treating cardiac surgery, heart failure and Acute Coronary Syndrome (ACS) patients. PICSO® can improve the quality of life for heart attack patients has an market opportunity for treating more than 350,000 patients in the US and Europe.

Earlybird Ventue Capital (www.earlybird.com)
Earlybird Ventue Capital is one of the most successful funds in Europe and currently manages assets of more than EUR 430 million for international investors. The VC firm invests in innovative early-stage companies with high international growth potential. Earlybird’s portfolio now includes more than 25 companies in eight countries, such as the Berlin-based Ubitricity, Light Blue Optics from Cambridge, or the radiation therapy delivery and management company, Calypso Med Technologies, Inc. from the US.

Delta Partners (www.deltapartners.com)
Delta Partners, established in 1994, invests in early stage European technology companies. The venture capital firm currently manages assets of about EUR 250 million and has made more than 65 investments to date. The company primarily invests in the UK and Ireland, however any EU- country is a possible investment market. Delta Partners, via the DEF III fund, can invest up to EUR 5 million.

SHS Gesellschaft für Beteiligungsmanagement (www.shsvc.net)
SHS Gesellschaft für Beteiligungsmanagement offers advice and funding to innovative companies in the life science and health care sectors from DACH region. Established in 1993 in Tübingen, the firm manages assets of about EUR 120 million. It receives capital from the European Investment Fund (EIF), pension fund KfW Bankengruppe, SHS management team, family offices and several leading businessmen.