IRVINE, Calif.--(BUSINESS WIRE)--JenaValve Technology, Inc., a developer, manufacturer and marketer of next-generation transcatheter aortic valve repair (TAVR) systems for the treatment of aortic valve disease, today announced the successful completion of a $26.5 million Series C expansion round of financing. Proceeds from the financing will be used to support the Company’s further growth in the global TAVR market.
“As we advance our science and products to treat a broad range of patients with aortic disease, this round of funding will enable us to execute key clinical studies required to gain European regulatory approval and complete a US feasibility study for our new aortic valve and transfemoral delivery system,” said Victoria E. Carr-Brendel, Ph.D., chief executive officer of JenaValve. “This financing is testament to the strength of our technology, the support of our investors and our promise to evolve into an effective competitor in this rapidly growing market.”
The financing round was co-led by RMM (Rudi Mariën) and Valiance and included participation from the existing syndicate of Atlas Venture, Edmond de Rothschild Investment Partners, Gimv, Legend Capital, NeoMed Management and VI Partners.
“To compete in TAVR requires serious financial backing and JenaValve is fortunate to have the continued support of this top-tier investor syndicate as we execute on the work required to launch our new TAVR system worldwide,” said Jan Keltjens, Chairman of the Board of Directors of JenaValve. “This financing provides the Company with the resources to deliver truly differentiated solutions for patients in need.”
JenaValve Technology, with operating locations in Munich, Germany and Irvine, California, develops, manufactures and markets transcatheter aortic valve repair (TAVR) systems to treat patients suffering from aortic valve disease. The Company’s Transapical TAVR system, consisting of the JenaValve valve system plus Cathlete PLUS delivery system, has CE Mark approval for aortic valve stenosis and for the unique indication to treat patients suffering from aortic valve insufficiency. JenaValve currently markets this product in Europe and other selected markets worldwide. JenaValve is backed by world-class U.S., European and Asian investors, including Atlas Venture, Edmond de Rothschild Investment Partners, Gimv (a Euronext-listed investment company - ticker: GIMB), Legend Capital, NeoMed Management, Omega Funds, RMM, Sunstone Capital, Valiance and VI Partners.
Additional information is available at www.jenavalve.com.