Symetis said yesterday that it acquired Middle Peak Medical, and the transcatheter mitral valve replacement device it’s developing, for an undisclosed amount. Middle Peak, which counts Edwards Lifesciences (NYSE:EW) among its backers, is developing a TMVR device that’s designed to simulate the shape of the posterior leaflet to stop mitral regurgitation. Lausanne, Switzerland-based Symetis said the buyout is […]
MASSDEVICE ON CALL — Medical device makers that relocated to Europe to take advantage of its easier path to approval are worried about new European Union rules, the Financial Times reports.
Companies such as Middle Peak Medical, which is developing a mitral valve implant, moved some of their operations to the EU to escape the FDA’s more-stringent approval protocols. But the new EU rules could take a bite out of that advantage, they worry.
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.