Magenta Elevate™ System
Magenta Medical is an Israeli medtech startup developing mechanical circulatory support (MCS) systems and is the developer of Elevate, the world’s smallest heart pump. Magenta closed a $105 million financing round led by global healthcare investment firm Novo Holdings.
No one should be surprised that an Israeli medtech startup is doing so well. Israel is not only known as Startup Nation for its high-tech sector. It is also known as being at the forefront of scientific and medical research. Its universities like Bar-Ilan and Tel Aviv University, and its hospitals like the Ichilov Medical Center and Jerusalem’s Hadassah Hospital make regular medical breakthroughs. Put that together with high-tech and you get Israeli startups like Magneta Medical.
Mechanical Circulatory Support (MCS) is a life-saving therapy that uses devices to assist or replace the function of a failing heart. These devices can be temporary or permanent, depending on the patient’s condition.
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MCS devices help the heart pump blood more efficiently by supporting the heart’s pumping action and taking over the heart’s function entirely. MCS is used for patients with severe heart failure who are not responding to other treatments and can significantly improve the quality of life for patients with heart failure. There is both an internal option – a mechanical implant – and an external one whereby blood is taken out of the body, passes through a machine that clears the blood, and then is returned to the body.
Co-founded in 2012 by Ehud Schwammenthal (CMO) and Yosi Tuval (CTO), Magenta is developing miniaturized catheter-mounted axial flow-pumps for mechanical circulatory support indications, based on Magenta’s core technology of self-expanding impellers and pump heads.
Magneta Medical says its percutaneous Left Ventricular Assist Device (pLVAD) is a powerful heart pump that is initially folded, inserted through the groin using a small puncture, and expanded for activation inside the left ventricle. The flow of the pump is adjusted based on the clinical circumstances of the patient, up to the entire cardiac output, allowing the heart to rest and the patient to recover. Once the Magenta technology is approved, physicians will be able to rely on a single device to treat the full range of MCS patients, thus eliminating the need to escalate therapy to a new device and subject the patient to unnecessary and invasive replacement procedures.
Magenta Medical’s CEO, Dr. David Israeli, said, “Magenta is thrilled to add these exceptional MedTech investors to its mission of disrupting the MCS space. Together with our existing partners, we are fortunate to have brought together a world-class group of investors that has both the resources and expertise to shepherd Magenta through regulatory approvals and commercial growth.”
