Magenta Medical was founded in October, 2012 by Prof. Ehud Schwammenthal and Mr. Yosi Tuval, Magenta Medical is developing novel therapeutic approaches to the management and treatment of Acute Heart Failure.

Prof. Schwammenthal, a cardiologist, and Mr. Tuval, a mechanical engineer, were also the founders of Ventor Technologies, a former Pitango portfolio company that developed an innovative catheter-based system for the minimally invasive replacement of the aortic valve. Ventor was acquired for $325 million by Medtronic Inc. in 2009.

Magenta Medical Provides: Heart failure has been recognized as an epidemic in the Western World, afflicting approximately 6.5 million people in the U.S. alone, with 960,000 new cases diagnosed annually. There are over one million hospitalizations per year in the U.S. with a primary diagnosis of heart failure (AHA, 2017). More than 90% of all hospital admissions in acute heart failure are caused by congestion, i.e. fluid retention that elevates systemic venous pressure and burdens the heart and the kidneys. Diuretics, the mainstay of therapy in these patients, fall short, as evidenced by the high rates of deteriorating kidney function and hospital readmission. Magenta offers a catheter-based therapy aimed at managing congestion through faster and safer fluid and salt removal, while protecting and potentiating kidney function.

The economic burden of heart failure is large and rapidly growing, with an estimated annual cost to the U.S. economy of over $30.7 billion in 2012. This amount is expected to reach a staggering $69.7 billion by 2030 (AHA, 2017).

Prof. Ehud Schwammenthal, Magenta’s Co-founder and Chief Medical Officer said, “Since its inception, Magenta has made great progress and was able to bring its first product into clinical trials in Europe. The current funding will allow us to expand and accelerate the clinical program on the path to approval in Europe and a pivotal study in the U.S. With the company’s growth and my increased focus on the medical and clinical aspects of the operation, we as founders decided to extend an offer to our chairman, Dr. David Israeli, to serve as CEO of the company. We are delighted that David accepted and we look forward to a continued fruitful partnership”.

Dr. David Israeli, newly appointed CEO adds,  “Having witnessed the progress of Magenta’s exciting technology as its Chairman of the Board, I was delighted to accept the role of CEO at Magenta Medical. Together with Prof. Schwammenthal and Mr. Tuval, both with a proven track record as medical device entrepreneurs, we aim to position Magenta as a groundbreaking company in the treatment of Acute Heart Failure”.