WILMINGTON, Del. and
MUNICH, July 23, 2013 /PRNewswire/ -- JenaValve
Technology, Inc., a privately-held, venture-backed developer,
manufacturer and marketer of transcatheter aortic valve
implantation (TAVI) systems for the treatment of aortic valve
disease, announced today that it has raised $62.5 million in a Series C venture round.
The financing was led by Belgium-based Gimv (GIMB.EN), a publicly
traded investment company with more than 30 years of experience in
private equity and venture capital. Other new investors
include Beijing-based Legend
Capital, a venture capital arm of Legend Holdings, Ltd. and an
active investor in life sciences as well as Omega Funds, an
international healthcare focused investment firm.
Edmond de Rothschild Investment Partners of Paris led the participation by the existing
investor group in the Series C round. Other current investors
participating in the round included Atlas Venture Fund, NeoMed
Management, VI Partners AG and Sunstone Capital
A/S.
"JenaValve is gaining momentum in the European TAVI market with
our novel transapical TAVI system primarily based on our products'
unique features and clinical benefits," said Helmut J. Straubiger,
CEO of JenaValve Technology. "We are at an exciting point in
our Company's growth as we commence a clinical study for our new
transfemoral TAVI product and endeavor to significantly increase
revenue in 2013, and beyond, from our transapical product across
Europe and other global
markets. Based on the positive feedback from our expanding
network of hospital customers, we believe our technology represents
an important advancement in the treatment of aortic valve
disease."
In addition to funding clinical trials and expansion of
commercial infrastructure, the Company also announced that it plans
to pursue clinical initiatives in the US as well as pursue
regulatory approval for its TAVI product in China.
Gimv Partner Patrick Van Beneden said, "Transcatheter valve
implantation is a proven and dynamic market worldwide and JenaValve
is delivering a series of compelling new TAVI products that provide
benefits over older generations of the technology. We are
pleased with the opportunity to contribute as a partner in this
endeavor."
Legend Capital Managing Director Ouyang Xiangyu stated, "Our
fund has begun to put more emphasis on investments in global life
science companies that have a clear China strategy. JenaValve is an
excellent fit with our strategy to invest in emerging companies in
a fast growing segment, backed by solid clinical evidence with a
desire to tap into an unmet need for a large subset of patients in
China."
About TAVI
Transcatheter aortic valve implantation (TAVI) systems have
already yielded nearly $1 billion in
revenues worldwide and the market is expected to grow to over
$3 billion in 20161.
Clinicians are now focused increasingly on TAVI technical and
procedural refinements and advancements found in second-generation
products such as JenaValve's that address and resolve issues
including ease of implantation, the need for post-procedure
pacemaker implantation and post-implant paravalvular leakage.
About the JenaValve™ TAVI System
The JenaValve is a true second-generation catheter-based aortic
valve implantation system engineered and manufactured to the
highest quality standards. The JenaValve transapical TAVI system is
currently being sold in Europe.
The Company's transfemoral TAVI system is expected to enter into
clinical study later in 2013 and is anticipated to be available for
sale in 2014.
- The JenaValve prosthesis consists of a natural aortic
porcine root bioprosthesis fitted with an outer porcine pericardial
patch, a so-called skirt, before being sewn onto a Nitinol
self-expanding stent. The high-quality bioprosthesis is durable,
ensuring long-term aortic valve function.
- JenaValve's unique "3-feeler element" allows the
clinician to accurately position the prosthesis in the anatomically
correct position during implantation thus ensuring a precise
sub-coronary alignment within the patient's native valve.
- JenaClip™ anchoring and clamping mechanism allows the
patient's native valve leaflets to be clamped onto the valve
enabling the JenaValve to be firmly anchored in the correct
anatomical position and provide active fixation and resistance to
migration.
- The JenaValve implantation is conducted on the beating
heart. Hemodynamic flow is maintained without cardiac arrest and
rapid pacing is not required during the procedure. The low profile
of the stent prosthesis ensures open flow to the coronaries after
the implantation. The JenaValve is available in three sizes, 23mm,
25mm and 27mm, covering aortic valve annuli from 21mm to 27mm.
- JenaValve is retrievable and repositionable thereby
contributing to a successful procedure and confidence of the
clinician.
About JenaValve Technology, Inc.
JenaValve Technology, Inc., a U.S. corporation with primary
operations in Munich, Germany,
develops, manufactures and markets transcatheter aortic valve
implantation systems (TAVI) to treat patients suffering from aortic
valve disease. JenaValve was founded in 2006 by cardiologists and
inventor's Prof. med Dr. Hans R.
Figulla and Markus Ferrari,
M.D., Ph.D. The Company's transapical aortic valve system is CE
marked and currently marketed in Europe and other markets worldwide. JenaValve
is backed by world-class U.S., European and Asian investors.
Additional information is available at
www.jenavalve.com
European Contact: Stephan
Wehselau, CFO, JenaValve Technology Inc. and JenaValve
Technology, GmbH, Munich
(Germany) +49 895 527 9080 or
info@jenavalve.de
U.S. Contact: Matt Clawson, Allen
& Caron Inc. +1-949 474 4300 or Matt@allencaron.com
1) Goldman Sachs Global Investment Research
SOURCE JenaValve Technology, Inc.