Berlin Heals Holding AG, a late stage medtech startup developing a groundbreaking method and medical device for treating heart failure, has secured fresh funding in its series A round to support further clinical developments. The company’s initial product, C-MIC, has already demonstrated success in a pilot study with patients and recently completed enrollment in an international multi-center controlled randomized clinical trial for CE certification.
Berlin Heals has developed a revolutionary implantable device called 'C-MIC' (Cardiac Microcurrent), which uses a constant electrical microcurrent and the resulting electrical field to produce sustainable and rapid improvements in heart failure patients. The company has already demonstrated the unprecedented success of its dilated cardiomyopathy therapy in a first-in-human pilot study. Recently, the company presented the long-term sustainable results of this study at the Technology and Heart Failure Therapeutics (THT) conference on February 11th in Boston and plans to publish the findings in an upcoming journal.
Dr. Felix Baader, Chairman of the Board, Berlin Heals says, "I had the pleasure of meeting several patients together with Co-Founder Marko Bagaric from our first two studies and can see the real impact our innovation has had on returning significant quality of life to them. They were so grateful to have their lives back and be active again. With this funding round, we further our progress to impact many more lives ahead."
To reach these next milestones, the company has successfully raised over CHF 7 million in a Series A1 round with existing and new investors in a recently executed financing round. This funding will support First-In-Human studies to evaluate the safety and efficacy of these new approaches to prepare for the large pivotal trial for global regulatory and reimbursement approvals. This funding will also support further development of the product and preparation for CE submission for the first-generation device.
John Brumfield, Chief Executive Officer, Berlin Heals comments, "We are very grateful to our internal investors that continue to support our mission to heal Heart Failure. We are also excited to welcome our new investors that have joined us on this journey. The results from our early clinical work showed strong potential for this new therapeutic approach. We are excited to share the results of our new Randomized Clinical Trial later this year. This funding round will give us the opportunity to test the method through several new less invasive approaches to determine which technique should be used in our Pivotal Trial for FDA and global market entry.
(Press release/RAN)
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