University of Maryland (UM) Ventures and Harpoon Medical, Inc. announced today that Harpoon Medical has obtained exclusive rights to a portfolio of technologies for cardiac valve repair from the University of Maryland, Baltimore (UMB). The licensed technology was developed in the Division of Cardiac Surgery at The University of Maryland School of Medicine. A $200,000 award from the BioMaryland Center and a $50,000 BioMaryland LIFE (Leading Innovative Faculty Entrepreneurs) Prize supported the company’s early development efforts. Since the company’s formation in early July 2013, the Harpoon Medical team has secured more than $300,000 in competitive grants and additional award funding from the BioMaryland Center and TEDCO.
“Harpoon Medical is a particularly exciting UMB startup and the minimally invasive technology for mitral valve repair – without the need to open the chest or stop the heart – has the potential to dramatically improve patient care,” said Phil Robilotto, the University’s Assistant Vice President, Office of Technology Transfer. “Harpoon’s management team has a well-established track record, and Harpoon has already made significant progress on both the product development and fundraising fronts.”