NeoChord adds $7m to $25m Series D round

April 25, 2019 By Fink Densford Leave a Comment

NeoChord said this week that it added $7 million to its Series D round of financing, adding onto a previous $25 million raised for a total of $32 million in the round.

The extra funds in the round came from Strategic Healthcare Investment Partners, the St. Louis Park, Minn.-based company said.

“Brad Vale and I established Strategic Healthcare Investment Partners with a focus to invest in medical technology companies that target large unmet clinical needs and have the potential to significantly impact human life. NeoChord is a pioneer in the field of beating heart chordal replacement therapy with an unmatched history of clinical experience. We are excited to be a part of the company’s growth and evolution toward advanced catheter-based technology platforms to treat mitral regurgitation,” S.H.I.P. general partner Mudit Jain said in a prepared statement.

Funds in the round will be used to support acceleration of the development of NeoChord’s transcatheter chordal repair and edge to edge programs, the company said. The chordal repair system is used in a minimally invasive, echo-guided treatment for patients with mitral valve regurgitation.

“NeoCord is leveraging our extensive commercial experience in Europe with beating heart chordal replacement to further accelerate development of our transcatheter programs. We look forward to partnering with the experienced team at Strategic Healthcare Investment Partners as we our increase our efforts to make catheter-based technologies available to patients with mitral regurgitation,” prez & CEO David Chung said in a press release.

Last November, NeoChord said it closed the Series D equity financing round with the initial $25 million to help support its mitral valve repair system intended to treat mitral valve regurgitation.

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