Proceeds to Enable Clinical Studies and Commercial Development of Innovative TAVR Systems Targeting Broad Patient Population
Irvine, Calif. – August 7, 2015 – 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.”