MiCardia Raises $4.4M, Spins Off Technology

Irvine-based Micardia, a developer of medical devices used for treating cardiovascular diseases, said Tuesday that it has raised a round of funding, which will provide it with $4.4M during 2012 and 2013. The firm said the round was an internal round. In addition to the funding, the firm said it is spinning off technology developed by the firm into a new company, ValCare, focused on a transcather mitral valve repair system. As part of that spinout, ValCare will receive $8.0M in funding from Israeli investment firm Accelmed Medical Partners LP. More information »