JenaValve, a German maker of aortic valves, has raised €19 million in Series B funding. Backers include GIMV, Atlas Venture, Edmond de Rothschild Investment Partners, Neomed Management, VI Partners and Sunstone Capital. The company previously raised €13.5 million.
Gimv invests in the series B financing round of German company JenaValve. This medical device company focuses on developing new aortic valves that can be implanted via the femoral vein or an incision between two ribs. In 2006-2007 the company already raised EUR 13.5 million in a first financing round. Today, Gimv invests in a second financing round totalling EUR 19 million, alongside Atlas Venture, Edmond de Rothschild Investment Partners, Neomed Management, VI Partners and Sunstone Capital. This capital round should enable JenaValve to further develop its products and get them ready to market.
Jenavalve (www.jenavalve.de) was founded in Munich in 2006. It is specialised in developing transcatheter aortic valves that can be implanted via the femoral vein or an incision between two ribs. Jenavalve’s product is relatively easy to implant and is minimally invasive. JenaValve’s catheter has a unique design with feelers and a clipping mechanism, which allows for accurate positioning and anchoring support. The technique is also expected to be time and cost saving and to reduce the risk of complications. The technique is therefore a suitable alternative to invasive open heart surgery for which elderly patients are often no longer eligible today.
Patrick Van Beneden, Executive Vice-President Life Sciences of Gimv, will hold an observer seat in JenaValve’s board of directors. He comments on the transaction: “JenaValve is Gimv’s second medtech investment in the last 12 months. The company has an experienced management team and the investment syndicate is very high level. Moreover, JenaValve’s products have some unique characteristics that will help them gain acceptance in the medical world. Finally, the results of the valves that have already been implanted in patients are very encouraging. We therefore hope that the first product of JenaValve will be recognized by the European authorities very soon.”