Evaluation of the Minimally Invasive VenTouch™ System in the Treatment of Functional Mitral Valve Regurgitation (FMR)

Inclusion Criteria: 1. Adults ≥18 years of age 2. Symptomatic FMR of grade moderately severe to severe (3 to 4) with structurally normal leaflets (preferably with echocardiographic evidence of EROA\> 0.20 cm2) 3. NYHA Class II to IV 4. Left Ventricular Ejection Fraction (LVEF) 20%-50% 5. Treatment with optimal guideline-directed medical therapy for heart failure for at least 30 days. Subjects must be receiving a beta blocker for 3 months and an ACE-I or ARB for one month unless, in the investigator's opinion, the subject is intolerant to beta blockers, ACE-I or ARB. Beta blockers and ACE-I (or ARB) doses should be stable for one month prior to study entry. Stable is defined as no more than a 100% increase or a 50% decrease in dose. 6. Subjects with a Class I indication for CRT implant according to current guidelines should have CRT implant prior to entry into the study. Subjects who have existing CRT implants may be included in the study if the implant has been in place for at least 90 days. 7. Left Ventricular End Diastolic Diameter (LVEDD) of 55 to 80 mm as determined by transthoracic echocardiography. 8. Subject is willing and available to return for study follow-up 9. Subject or legal representative understands and provides signed informed consent for participation in study 10. Acceptance of subject for trial enrollment after review of all subject baseline data by Study Selection Committee Exclusion Criteria: 1. Life expectancy of less than 12 months due to conditions other than cardiac status 2. Identified need for any cardiovascular surgery 3. Untreated clinically significant coronary artery disease 4. Any procedure, condition or cardiac anatomy that may impact or compromise the pericardial space (e.g. prior mitral valve surgery, CABG, epicardial pacing leads, pericarditis, or other procedure involving pericardial access) 5. Percutaneous coronary intervention, acute coronary syndrome (e.g. STEMI or non-STEMI myocardial infarction, unstable angina) or clinically significant cardiac events (e.g hypotension, syncope, arrhythmias, embolism, heart failure exacerbation or any hospitalization) within 30 days of enrollment 6. Thoracic or cardiac surgery contraindication (e.g., acute respiratory distress, endocarditis, myocarditis, pericarditis) 7. Significant structural abnormality of the mitral valve (e.g. flail leaflets, ruptured or elongated chordae, prolapsed valve, perforated valve leaflets, significant calcification in the annulus, or calcification in the leaflets that restricts motion) 8. Severe symptomatic carotid stenosis 9. Severe or sustained pulmonary hypertension, defined by resting pulmonary artery systolic (PAS) pressure greater than or equal to 70 mm Hg 10. Physical evidence of right-sided congestive heart failure with echocardiographic evidence of moderate or severe right ventricular dysfunction 11. Hypotension (systolic pressure \<90mm Hg) 12. Hypertrophic cardiomyopathy, restrictive cardiomyopathy, or any other structural heart disease causing heart failure other than dilated cardiomyopathy 13. UNOS status 1 heart transplantation 14. Creatinine \> 2.5 mg/dL (221 µmol/L) and/or renal failure requiring dialysis 15. Active systemic infection or bleeding 16. Autoimmune disorders and/or the use of immune suppression therapy 17. Females who are pregnant (as documented by HCG beta pregnancy test in females of child-bearing age) or lactating 18. Currently enrolled in another investigational drug or device study Intra-Operative Exclusion Criteria: 1. Subjects with heart size outside of the offered VenTouch System size range 2. Significant structural abnormality of the mitral valve (e.g. flail leaflets, ruptured or elongated chordae, prolapsed valve, perforated valve leaflets, significant calcification in the annulus, or calcification in the leaflets that restricts motion) 3. Signs/indications of ischemia 4. Intra-operative coronary angiography demonstrates that there is compression of the coronary arteries or reduction in coronary blood flow due to the VenTouch implant