Pi-Cardia, an Israel-based developer of a device to treat the heart disorder aortic valve stenosis, has closed a $10m round backed by Clal Biotechnology, a subsidiary of diversified holding company Clal Group.
Innogest, Fondo Atlante Ventures, VI-Ventures and Anatomy Medical Technologies Fund also contributed capital to the round. Clal and Anatony Medical participated as existing backers but Pi-Cardia has not revealed details of earlier funding.
Founded in 2009, Pi-Cardia is working on a non-implant based catheter that uses electrical energy to treat aortic valve stenosis.
The capital will help it finish developing a second-generation version of the device and continue clinical studies as it looks to secure the CE-Mark certification it needs to sell it in European Union countries.