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MicroMed Technology, Inc.

This article was originally published in The Gray Sheet

Executive Summary

Private placement of Series C convertible preferred stock raises $17.6 mil. The privately held Houston firm expects to file an investigational device exemption with FDA shortly to begin studies of the DeBakey VAD heart assist device for treatment of congestive heart failure. The device measures 30 mm x 76 mm, weighs 93 grams and "is approximately one-tenth the size of portable heart assist devices already on the market," MicroMed says. Leerink Swann & Co. was placement agent for a portion of the funds, which will also be used for ongoing European trials
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