SHS Gesellschaft für Beteiligungsmanagement is investing in CoreMedic, a start-up developing transfemoral repair systems to treat heart valve malfunctions. SHS is investing from its fourth fund generation to finance CoreMedic’s further growth and the clinical application of its innovative products.
A press release reports that CoreMedic is developing ChordArt—a novel heart valve repair system that is designed to be less invasive, easy to use, and (most importantly) result in an excellent outcome for the patient.
The goal of CoreMedic’s novel medical device is to improve the treatment for patients with mitral heart valve regurgitation. With its minimally invasive approach, ChordArt aims to allow the treatment of patients that are currently excluded from the therapy due to the invasiveness of today’s gold standard, the surgical repair.
CoreMedic will use the raised capital to further develop its ChordArt™ technologies. A first in human clinical use will be advanced for 2018 as well as the initiation of a clinical trial that will support the European approval (CE) of the product.
Thomas Bauer, chief executive officer of CoreMedic, says: “Our novel ChordArt repair concept offers tremendous advantages compared to the currently applied open heart surgery at arrested heart. Due to the significantly reduced invasiveness, the ChordArt approach has not only the potential to allow treatment of currently untreatable patients. It can also reduce the trauma of patients that undergo treatment with today’s gold standard substantially.”
With a total volume of 125 million euro, the fourth SHS fund is focusing on expansion financing, changes in shareholder structures and successor situations. The Tuebingen based investor is planning further acquisitions and investments in the fast-growing medical technology and life-science industries in Germany, Austria and Switzerland in the months ahead.