Colibri Heart Valve is looking to raise a $25 million Series C for the ready-to-use replacement heart valve it’s developing and has already put $1.25 million into its coffers.
Broomfield, Colo.-based Colibri is running a 1st-in-human trial of the transcatheter aortic valve replacement it’s developing, a pre-mounted, pre-crimped and pre-packaged device that’s designed to be shipped ready to use, according to its website.
Colibri has said that patients enrolled in the study showed no observed stroke, no pacemaker implantations, virtually no paravalvular leak and a high retained average effective orifice area of greater than 2.2cm2 “confirmed by multiple patients with greater than 1 year follow up completed.”
The equity round so far includes contributions from 6 unnamed investors, according to a regulatory filing.
Last month, Colibri spun out its tissue engineering business as Colorado Therapeutics, to develop xenogenic biologic tissue matrices for soft tissue reinforcement, regenerative and vascular applications outside of structural heart. The initial focus will be on the soft tissue repair and reinforcement markets; Colibri said Colorado Therapeutics has already filed for 510(k) clearance from the FDA for a tissue matrix product for this application, including the repair of hernia defects.