ATLANTA, July 27, 2021 (Newswire.com) - CorMatrix® Cardiovascular, Inc., (www.cormatrix.com) is a leading developer of regenerative cardiovascular products and is working on a portfolio of groundbreaking regenerative heart valve products for individuals with valve damage and disease. The growth equity financing was led by JAM Capital Partners, along with participation from existing investors. The investment will be used to complete the ongoing FDA clinical trial for the CorTRICUSPID ECM Heart Valve, which is a tissue-engineered replacement for diseased heart valves and directed toward complete valve regeneration. The funding will also facilitate the expansion of the CorMatrix FDA-cleared epicardial CorPATCH business and provide capital to advance other cardiovascular technologies being developed by the company that have the potential to create a paradigm shift in the treatment of heart disease.
Along with the additional funds, the board has been expanded to include several leading executives and members including JAM Capital Partners CEO John McCallum. The current CorMatrix interim CEO Jim Millar states, "The outstanding scientific and leadership team we have brought together has already made strong progress to show how the unique underlying physiological mechanisms of the Extracellular Matrix (ECM) technology, as key targets for cardiac tissue regeneration, translates into powerful biology and a new path for life-changing products for patients."
Robert Matheny, MD, Chief Scientific and Medical Officer of CorMatrix adds, "This investment will allow us to complete our FDA trial for the CorTRICUSPID valve, which has already enrolled 30 patients. It will also enable us to accelerate the CorPATCH sales and development of the second generation of devices in these areas including additional surgical and catheter-based heart valve applications and heart failure treatments."
"We have invested in a number of successful regenerative medicine companies with groundbreaking approaches that seek to stimulate the remarkable regenerative capabilities of the human body," said John McCallum, Managing Partner of JAM Capital Partners. "We believe CorMatrix is well positioned to deliver a suite of revolutionary technologies for patients suffering from a variety of cardiovascular diseases."
CorMatrix has sold over 200,000 devices based on its technology platform and is now focusing on some very large markets and unmet clinical needs in heart failure that can be applied to a regenerative and tissue repair approach.
CorMatrix® Cardiovascular, Inc. was founded in 2001 as a privately held medical device company dedicated to developing and delivering innovative biomaterial devices that harness the body's own innate ability to repair damaged heart tissue. Headquartered in Atlanta, Georgia, the company is currently researching, developing and commercializing a platform technology known as CorMatrix ECM® for regenerative heart valves and heart failure indications with U.S. clearance and ongoing clinical trials. With significant patent protection, CorMatrix is poised to successfully expand its current line of products. For more information, visit www.cormatrix.com.
About JAM Capital Partners
JAM Capital Partners is a private investment partnership backed by entrepreneurial families and individuals. Our core business is making growth equity investments in fast-growing middle-market-operating companies with a focus on medical technology investments. We seek to invest in situations where we can add significant value beyond our capital and where we can bring valuable relationships or operational expertise to our partner companies. For more information, visit www.jamcapitalpartners.net.
Contact: Robert Matheny, MD
Source: CorMatrix Cardiovascular