CMI’nov completes private financing round of 654K€.

Monistrol sur Loire, December 15, 2018

CMI’nov is pleased to announce the closing of a private financing round, led by Sofimac Partners, investment fund’s manager of JEREMIE AUVERGNE 2 and CREDIT AGRICOLE LOIRE HAUTE-LOIRE investment, for a total of 654K euros. This will complement the initial seed round of 300K, and the > 1.2 million in non-dilutive financing already secured since 2017. Bernard Pain, CEO said: “We are proud to have Sofimac join our existing investors. This is a valuable recognition of the progress we have made in the past 2 in the development of Mit’rep, our minimally invasive annuloplasty treatment device.” Corinne Pain, COO declared: “The financing will allow us to complete the in vivo proof of concept, which will be an essential step of our preclinical studies. Mit’rep has elicited strong market interest from interventional cardiologists and heart surgeons. We look forward to initiating first in man studies in 2021-22.”

Mit’rep is a new generation minimally invasive annuloplasty device for the treatment of functional mitral regurgitation. Nitinol anchors delivered transapically are used to position a braid along the mitral ring, which is then used to reduce the mitral valve diameter at will, in real-time under echography.

For additional information, please contact Corinne.pain@cmi-nov.com