Foley Hoag Advises Abiomed as Lead Investor in $15M Series B Financing of Magenta Medical

October 12, 2017

Foley Hoag LLP recently represented Abiomed, Inc. (Nasdaq: ABMD) in its investment in medical device company Magenta Medical. Based in Danvers, MA, Abiomed is a leading provider of medical devices that provide circulatory support. Abiomed led the $15 million Series B financing round, with participation from Pitango Venture Capital, JAFCO Co., Ltd., and a group of industry and cardiovascular experts.

With headquarters in Tel-Aviv, Israel, Magenta develops devices for the treatment of acute heart failure. Magenta will use the funds to position itself as a groundbreaker in the management and treatment of acute heart failure, and to expand and accelerate clinical trials in Europe and the United States.

Foley Hoag partner Mark Haddad represented Abiomed in the transaction.

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