Company Announcements

MIG Capital and CoreMedic announce fresh funding in Series B Extension

• CoreMedic leverages its cutting-edge transcatheter technology for mitral valve repair to provide a minimally invasive alternative to traditional surgical methods
• MIG Capital joins existing syndicate of international medtech investors
• The funding will be used to drive a First-in-human study

Radolfzell and Munich, Germany, 11 February 2025

CoreMedic GmbH, an innovative cardiology company, and MIG Capital AG, a new investor in the company and one of Germany’s leading venture capital firms, are pleased to announce new funding in CoreMedic’s Series B extension round for its ChordArt transcatheter mitral valve repair device.

CoreMedic demonstrated the success of its surgically implanted ChordArt device with 5-year stability, safety and effectiveness data. The new funding will enable CoreMedic to accelerate clinical development of its device by completing the First-in-human study of the transseptal implantation of ChordArt already in progress, as well as build upon its medical advisory and international clinical community in preparation for expanding to a global clinical program.

“We are thrilled to announce the expansion of our investor syndicate with the addition of MIG Capital, which has deep domain investment experience in building companies from seed to expansion across market sectors. We welcome Matthias Guth to our esteemed Board. This is a significant milestone in the further development of our company and will support us in achieving our goals,” said Josef Bogenschütz, CEO of CoreMedic.

“We are delighted to support CoreMedic as it continues the development of its exciting new transcatheter mitral valve repair system, ChordArt,” said Matthias Guth, Venture Partner at MIG Capital. “In addition to the excellent and seasoned team, the company’s technology is bringing significant innovation to the cardiovascular space. Currently, most technologies are irreversible, whereas the CoreMedic device can be used to repair the valve while keeping open additional therapeutic downstream options.”

Mitral Valve Regurgitation (MR) is a prevalent and serious heart condition caused by structural damage to the mitral valve, leading to blood leakage between the left heart chambers. Affecting more than 24 million patients worldwide^[1], MR represents a significant unmet medical need, as treatment requires structural interventions often conducted via open heart surgery, which many patients are unable to undergo. In response, CoreMedic has developed ChordArt, a transcatheter system designed to replace damaged mitral valve chords with a minimally invasive procedure. This innovative approach reduces patient trauma as well as procedure time and complexity, shortens recovery time and expands treatment options for those previously ineligible for conventional surgery.

About CoreMedic

CoreMedic GmbH is an innovative cardiology company, located in Radolfzell, Germany. As a spin-off of the Heart Center of University of Bern, Switzerland, CoreMedic was initiated in 2012 to develop the breakthrough treatment concept for mitral valve regurgitation ChordArt. The company is backed by a group of experienced and committed private investors with backgrounds in heart medicine and cardiovascular devices and institutional healthcare investor SHS Capital.

For further information, please visit www.coremedic.de.

About ChordArt

The ChordArt Transcatheter Mitral Valve repair (TMVr) - System is designed to improve chorda repair procedures across all crucial parameters. These include the reduction of patient trauma, duration of procedure and complexity as well as operator dependency and time of recovery for the patient. ChordArt is a catheter system designed to deliver implants percutaneously allowing interventions in high-risk as well as asymptomatic patients, which are not eligible for treatment with the current “Gold Standard” of chordal replacement via open-heart surgery.

About MIG Capital

MIG Capital is one of the leading German VC investors. Through its MIG funds, MIG invests in young deep tech and life sciences companies in German-speaking Europe and beyond. To date, the company has invested over €730 million in more than 50 start-ups. MIG portfolio companies develop innovations in areas including biopharmaceuticals, energy and environmental technologies, advanced computing, digitalization / IoT, medical technology, and digital health. The MIG investment portfolio currently consists of 31 companies.

MIG’s investment team is made up of a dedicated group of engineers, scientists, physicians and entrepreneurs who use analytical and creative processes to assess the risks and opportunities of business models and technologies. Their reputation, experience and network provide excellent access to companies, institutions and decision-makers to support the growth of their portfolio companies.

In recent years, MIG Capital has realized more than ten successful portfolio company sales, including Siltectra (to Infineon) and Hemovent (to MicroPort). It has placed several companies on the stock exchange including BRAIN, NFON, BioNTech, and Immatics.

For further information, please visit: www.mig.ag, www.mig-fonds.de. LinkedIn: MIG Capital

Contact

MIG Capital
Matthias Guth, Venture Partner
+49-89-94382680
mg@mig.ag

CoreMedic
Josef Bogenschütz, CEO
+49-173-8821359
info@coremedic.de

Media Inquiries
MC Services
Dr. Cora Kaiser, Catherine Featherston, Dr. Johanna Kobler
+49-89-210228-0
migag@mc-services.eu

^[1] Aluru, John S. et al: Valvular Heart Disease Epidemiology. Med Sci (Basel). 2022 Jun 15;10(2):32. doi: 10.3390/medsci10020032