European TAVI maker takes windfall of investor interest in series C financing
JenaValve Technology revealed on Tuesday that it raised US $62.5 million in series C financing, led by Belgium-based Gimv. New investors Omega Funds and Legend Capital also joined the round along with existing investors.
Helmut Straubiger, CEO of JenaValve, said that the company is "gaining momentum" in the European transcatheter aortic valve implantation (TAVI) systems industry, which treat patients suffering from aortic valve disease.
"We are at an exciting point in our company's growth as we commence a clinical study for our new transfemoral TAVI product and endeavor to significantly increase revenue in 2013, and beyond," he said.
The product is implanted on the beating heart, according to the company statement. It is available in 23mm, 25mm and 27mm which will cover aortic valve annuli measuring from 21mm to 27mm.
JenaValve is trying to get government regulatory approval in order to market its TAVI product in China, apart from expanding in the US.