Preclinical Swiss medtech group Polares Medical said today it closed a $25 million funding round to support its mitral valve repair technologies.
Funding in the round was led by Decheng Capital and joined by Endeavour Vision, IDO Investments, Earlybird Venture Capital and Wellington Partners, the company said.
Polares Medical is developing a “hemi-replacement” solution for the mitral valve through which the posterior leaflet is replaced with a prosthetic leaflet designed to enhance coaptation with the native anterior leaflet.
“Hemi-replacement represents a new treatment paradigm for mitral regurgitation, between repair and total replacement. We believe this approach has the potential to provide an effective addition to the armamentarium for the percutaneous treatment of MR,” Decheng Principal Dr. Nick Pliam said in a prepared statement.
Polares was created as a spin-off of Symetis intended to develop mitral technology obtained through Symetis’ acquisition of Middle Peak Medical before Symetis was acquired by Boston Scientific (NYSE:BSX) last year, the company said.
“This investment allows Polares to bring our technology to clinical evaluation, and to unleash its potential as a game-changer in MR treatment,” chair & CEO Jacques Essinger said in a press release.