Annular Reshaping of the Mitral Valve for Patients With Mitral Regurgitation Using the Millipede IRIS System

Inclusion Criteria: * Presence of symptomatic severe MR (effective regurgitant orifice (ERO) ≥0.2 cm2 for Secondary MR, ERO ≥0.4 cm2 for Primary MR) * The New York Heart Association Functional Class II, III or ambulatory IV. * Left Ventricular Ejection Fraction (LVEF) is ≥20% and ≤50% * Creatine Kinase-MB (CK-MB) obtained within prior 14 days \< local laboratory -Upper Limit of Normal (ULN). * Left Ventricular End Systolic Dimension (LVESD) is ≤ 65 mm assessed by TTE obtained within 90 days Exclusion Criteria: -Untreated clinically significant coronary artery disease requiring revascularization. Presence of any of the following: * Estimated pulmonary artery systolic pressure (PASP) \> 70 mmHg assessed by site based on echocardiography or right heart catheterization * Hypertrophic cardiomyopathy, restrictive cardiomyopathy, constrictive pericarditis, or any other structural heart disease causing heart failure other than dilated cardiomyopathy of either ischemic or non-ischemic etiology * Infiltrative cardiomyopathies (e.g., amyloidosis, hemochromatosis, sarcoidosis) * Hemodynamic instability requiring inotropic support or mechanical heart assistance. * Hemodynamic instability defined as systolic pressure \< 90 mmHg with or without afterload reduction, cardiogenic shock or the need for inotropic support or intra-aortic balloon pump or other hemodynamic support device. * Physical evidence of right-sided congestive heart failure with echocardiographic evidence of moderate or severe right ventricular dysfunction. * Coronary artery bypass grafting (CABG) within 30 days prior to subject's consent. * Percutaneous coronary intervention within 30 days prior to subject's consent. * Tricuspid valve disease requiring surgery. * Aortic valve disease requiring surgery or TAVI. * Carotid surgery within 30 days prior to subject registration. * Implant of any Cardiac Resynchronization Therapy (CRT) or Cardiac -Resynchronization Therapy with cardioverter-defibrillator (CRT-D) within the last 30 days prior to subject registration. * Need for emergent or urgent surgery for any reason or any planned cardiac surgery within the next 12 months. * Prior mitral valve leaflet surgery or any currently implanted prosthetic mitral valve, or any prior transcatheter mitral valve procedure. * Status 1 heart transplant or prior orthotopic heart transplantation. * Chronic Kidney Disease. * Chronic Steroid Therapy. * Cerebrovascular accident within 30 days prior to subject's consent. * Severe symptomatic carotid stenosis (\> 70% by ultrasound).Life expectancy \< 12 months due to non-cardiac conditions. * Active infections requiring current antibiotic therapy. * Pregnant or planning pregnancy within next 12 months. * Currently participating in an investigational drug or another device study. * Severe organic lesions with mitral chords retraction, severely fibrotic and immobile leaflets, severely deformed subvalvular apparatus. * endocarditis or active endocarditis in the last 3 months. * Heavily calcified annulus or leaflets, mitral valve stenosis. * Congenital malformation with limited valvular tissue * Patient requires mitral valve replacement * Previously implanted prosthetic mitral valve or annuloplasty ring/band. * Evidence of LV or LA thrombus, vegetation or mass * Left Ventricular Ejection Fraction \<20% * Left Ventricular End Diastolic Diameter \>65 mm * Severe tricuspid regurgitation or severe RV dysfunction * Condition that prevents transatrial access or transfemoral access * Anatomical ineligibility to the investigational device * Known hypersensitivity or contraindication to procedural or post procedural medication (e.g., contrast solution, anticoagulation therapy) or hypersensitivity to nickel or titanium.