MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Moray Medical announced today that it has raised $3.3 million in seed funding led by 415 CAPITAL, which invested alongside a number of prominent medtech entrepreneurs.
Moray is developing the CoralTM system, a novel interventional robotics platform powered by microfluidics and an augmented reality (AR) digital user interface. While the platform promises to dramatically simplify a wide range of minimally invasive cardiovascular interventions, Moray is initially focused on the rapidly growing transcatheter mitral valve repair (TMVR) market.
“While transcatheter edge-to-edge repair (TEER), or clip therapy, is rapidly becoming the new clinical standard of care, the complexity and learning curve associated with current devices means that the vast majority of needy patients are being left untreated,” said Mark Barrish, CEO and Co-Founder of Moray Medical. “Our platform is aimed at empowering interventionalists at all skill levels to carry out these procedures in a cost-efficient manner to ensure that millions of additional sick patients get the life-saving treatment they deserve.”
Moray also announced that 415 CAPITAL’s Senior Venture Partner, Dr. Azin Parhizgar, has joined Moray’s Board of Directors. Dr. Parhizgar is Chairwoman of CVPath Institute and a Board Member of Soundbite Medical Solutions and InnovHeart. She was previously CEO, President and Board Member at Claret Medical, an embolic protection device company acquired by Boston Scientific.
”Moray’s interventional robotics platform is designed to be a disruptive technology that will enable complex 3D structural heart and other interventional procedures to be performed with precision, accuracy, and efficiency. This enablement will be transformative to how such interventional procedures may be performed in the future, in person or remotely,” said Dr. Parhizgar.