VIENNA, Austria, April 17, 2012—Miracor Medical Systems GmbH announced today that it has been selected as a Finalist for the 2012 edition of Red Herring's Top 100 Europe award, a prestigious list honoring the year’s most promising private technology ventures from the European business region. Finalists were selected based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. The Top 100 winners will be announced on April 25th.
On February 28, 2012, Miracor Medical announced that it has received a cash infusion of $3.5 million (€2.6 million) in the form of a research grant from the Austrian Research Promotion Agency (“FFG”), the national funding institution for applied research and development in Austria. The funding will be used primarily to commence the pivotal clinical trial—RAMSES—of the Company’s PICSO® (Pressure-controlled Intermittent Coronary Sinus Occlusion) system. (Click here for PICSO animation.)
About Miracor Medical Systems GmbH
Based in Vienna, Austria, privately held Miracor is commercializing a unique and potentially disruptive technology, PICSO®, for acute coronary syndrome (ACS), heart failure, and cardiac surgery patients. The Company’s objective is to establish PICSO® as the standard of care for heart attack patients, thereby improving their quality of life. The initial market opportunity for PICSO® is 30% of all ACS patients treated per year, which translates into more than 350,000 patients in the U.S. and Europe.
The Miracor PICSO® Impulse System is CE-marked and can be used during coronary revascularization procedures following myocardial infarction and other types of acute coronary syndromes to intermittently increase the pressure in the coronary venous system. The technology is for investigational use only in the United States at this time.