Novo Holdings leads $105 million financing of Magenta Medical to support FDA approval for world’s smallest heart pump
- Funds will be used to advance Magenta’s US clinical programs to support the FDA’s approval of the Elevate™ System, the world’s smallest heart pump
- Eric Snyder, Partner, Venture Investments, Novo Holdings will join Magenta Medical Board of Directors
Boston, US, 23 July 2024 – Novo Holdings, a leading life science investor, today announces that it has led a $105 million financing in Magenta Medical (Magenta), developer of the Elevate™ System, the world’s smallest heart pump. The financing will be used to advance the company’s US clinical programs in multiple mechanical circulatory support (MCS) indications and to secure the first FDA approval for the Elevate™ System in patients undergoing high-risk percutaneous coronary interventions (HR-PCI).
