HVR Cardio closes €10.7 million series B funding round

HVR Cardio catheter system

HVR Cardio has closed on a €10.7 million series B round of financing. The Series B Round was led by Innovestor Life Science Fund and Tesi, both headquartered in Finland.

HVR Cardio is developing a technology for transcatheter mitral valve repair (TMVR) with its CathHELIX annuloplasty system, for use by structural heart physicians to treat mitral regurgitation (MR).

“MR is a common valvular heart disease impacting millions of people and leaving a significant need for better treatment options. We are truly excited about the elegant and minimally invasive CathHELIX technology that will offer new hope for patients,” comments Pekka Simula, partner of Innovestor Life Science.

(l-r) Tim Girton and Tom Fleming

Meanwhile, the company has also announced two recent appointments to its leadership team, including Tom Fleming, who joined as chief executive Officer in May of 2022. Fleming brings 21 years of experience at Boston Scientific, where he concluded in the role of vice president and general manager for its Structural Heart Valve Business. Prior to this role, Fleming served as CEO of 4Tech.

“The potential of this innovative technology is why I joined the team,” Fleming said. “This funding enables our next step into human clinical trials and allows us to expand our team.”

Tim Girton also joined as chief technology officer in July 2022, bringing a background that includes more than 23 years at Boston Scientific, with his most recent role being vice president of research and development, interventional cardiology.

The CathHELIX device is an investigational technology and is not approved or cleared for use in patients in any geography.


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