Xeltis has Closed €45 M in Oversubscribed Series C Financing to Advance Aortic and Pulmonary Valve Programs
Xeltis, a clinical-stage medical device company pioneering a restorative approach in heart valve therapy, has announced the completion of an oversubscribed €45 million ($52 million) Series C financing. The funding round was led by a global strategic investor with participation from venture capital fund Ysios Capital and a number of large private investors. Existing institutional investors (LSP, Kurma Partners and VI Partners) and private investors also participated in the financing.
The Series C financing will support continuation of clinical activities and acceleration of product and market development for the company’s novel aortic and pulmonary valve programs. This is the largest investment round for a private medical device company in Europe in 2017.
“Xeltis is eager to provide patients who need heart valve replacement with a new option offered through our restorative technology, to ultimately improve their lives and reduce healthcare system costs,” said Xeltis Chief Executive Officer (CEO) Laurent Grandidier. “This robust financing provides us with the resources necessary to catapult our strategy forward – supporting quick expansion of our aortic and pulmonary valve programs and strengthening our quest to redefine heart valve replacement therapy.” Xeltis’ heart valves enable the patient’s own body to naturally restore a new heart valve through a therapeutic approach called Endogenous Tissue Restoration (ETR). With ETR, the patient’s natural healing system develops tissue that pervades Xeltis’ heart valve, forming a new, natural and fully functional valve within it. As ETR occurs, Xeltis implants are gradually absorbed by the body. ETR is enabled by bioabsorbable polymers based on Nobel prize awarded science.
Xeltis is a clinical-stage medical device company developing the first heart valves and blood vessels enabling the body’s natural restoration of heart valve function through a therapeutic approach called Endogenous Tissue Restoration (ETR). The company’s cardiovascular implants are made of bioabsorbable polymers based on Nobel Prizeawarded science.
Source: Xeltis press release