Middle Peak Medical said it raised an $8.5 million Series A round to develop its technology for mitral valve replacement.
The Palo Alto, Calif.- and Munich-based medical device company said the round was co-led by Wellington Partners and Seventure Partners, joined by prior backer High-Tech Gründerfonds Management.
Middle Peak said it will keep its research & development operations in Palo Alto and establish clinical and regulatory operations in Europe.
"We are delighted to partner with Wellington, Seventure, and HTGF. They bring tremendous value to our operations. Our internal financing allowed us to show strong proof-of-concept of the Middle Peak mitral implant. We now have the resources to accelerate pre-clinical and clinical development. Middle Peak intends to bring significant benefit to patients with mitral regurgitation, the most common valvular heart disease," co-founder and CEO Dr. Michael Lesh said in prepared remarks.