Device firm CEO figures why not go outside U.S. to raise money and ends up in Malaysia (video)

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You may find life on Mars before finding an early stage medical device company with a novel therapy that has been able to raise venture capital in the U.S.

That was the hard reality that Mardil Medical, a Minnesota medical device firm that has developed a minimally invasive therapy to treat functional mitral valve regurgitation without performing open-heart surgery or pulmonary bypass, found itself in. CEO Jim Buck decided if Asia is a place where clinical trials could be run, then why not raise money from there too?

Mardil is raising several millions of dollars from a venture capital fund backed by the Malaysian government, and the deal could close as early as next week. He won’t reveal more details but he did chat with MedCity News after his panel discussion about accessing capital and finding strategic partners in Asia at the annual LifeScience Alley Conference.

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Arundhati Parmar

By Arundhati Parmar

Arundhati Parmar is the Medical Devices Reporter at MedCity News. She has covered medical technology since 2008 and specialized in business journalism since 2001. Parmar has three degrees from three continents - a Bachelor of Arts in English from Jadavpur University, Kolkata, India; a Masters in English Literature from the University of Sydney, Australia and a Masters in Journalism from Northwestern University in Chicago. She has sworn never to enter a classroom again.
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