JenaValve Technology announced that it has secured an expansion to its Series C venture round of US$10 million, increasing the total amount raised in the round from US$62.5 million to US$72.5 million.
New investors participating in the expansion of the round are UK-based Valiance Asset Management and Belgium-based RMM. Current investors participating in the financing round include Edmond de Rothschild Investment Partners; Atlas Venture Fund; NeoMed Management; VI Partners AG; Sunstone Capital A/S; Gimv (GIMB.EN), a publicly traded investment company; Legend Capital and Omega Funds.
The company also announced the addition of a new director and a board observer in conjunction with the financing round. Industry veteran Jan Keltjen was appointed to the JenaValve board of directors, effective December 30, 2013. In addition, renowned life sciences entrepreneur and financier Rudi Mariën has been appointed as an observer to the board.
“JenaValve continues to build momentum in the European transcatheter aortic valve implantation (TAVI) market with our novel transapical TAVI system,” says Helmut J Straubiger, chief executive officer of JenaValve Technology. “As we continue to work to gain clinical experience with our transfemoral TAVI system and build out international regulatory and commercial programmes, we welcome the participation of new world-class investors and the governance and experience of Keltjens and Mariën as director and board observer, respectively.”
Keltjens is the chairman and chief executive officer of Steering Brain Stimulation (Sapiens), a medical device company pioneering brain stimulation products. He has a strong track record in the medical device sector and more than 30 years of management experience, including the role of president and chief executive officer of Endosense SA, which was acquired by St Jude Medical in August 2013. He has also worked as chief executive officer and/or chairman in a number of medical device companies worldwide, including CryoCath Technologies, Montreal, Canada (acquired in 2008 by Medtronic); AngioDynamics Inc, Albany, New York, USA; and Surpass Medical Ltd, Tel Aviv, Israel/Sunrise, Florida, USA (acquired in 2012 by Stryker).
Mariën was co-founder, reference shareholder and chairman of Innogenetics, and has been the founder, shareholder and managing director of several clinical reference laboratories. Currently, he is managing director of Barc NV, a leading international centralised clinical laboratory exclusively dedicated to pharmaceutical studies. He has different mandates as chief executive officer and director at Barc USA, Barc Inc, Barc RSA and Laboraco BVBA. He is vice president of Cerba European Lab and president and chief executive officer of Gengest Bvba and Biovest ComVa. Through his management company, Gengest BVBA, he has board mandates in different public and private biotech companies.
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 and other markets worldwide. The Company’s transfemoral TAVI system entered into a first-in-man clinical study at the end of 2013 and is anticipated to be commercially available for sale in 2015.
• 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 the correct implantation height and a precise sub-coronary alignment within the patient’s native valve.
• JenaClip anchoring and clamping mechanism allows the prosthesis to be clamped onto the patient’s native valve leaflets 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 and the open cell design 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.