Xeltis extends series B financing to €30 million

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Xeltis has received a €3 million extension to its series B financing, which now stands at €30 million. This extension is intended to hasten Xeltis’ pipeline development on a number of cardiovascular indications.

Xeltis’ bioabsorbable cardiovascular valves and vessels are designed to allow endogenous tissue restoration.

Xeltis has successfully completed the first two feasibility trials for its bioabsorbable cardiovascular device technology, showing positive results in patients a year after surgery. Xeltis is planning to start the clinical trial program for its pulmonary valve in 2016.

Xeltis recently nominated Michel Darnaud as the new chairman of the Board, and its Executive Team has been joined by international life science professionals, including COO Boris Warnack and CDO Eliane Schutte.

Xeltis has also been included in the 2015 Fierce 15 list of most promising private medical technology companies by the US daily report Fierce Medical Devices. Additionally, CEO Laurent Grandidier recently received an award for 2015 Best CEO in the Medical Device Industry by magazine European CEO.

Grandidier states, “I am very honored by the business and public recognitions, which are beginning to establish a track record for our remarkable venture.”

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