Espoo-based HVR Cardio has completed €10.7 million in a Series B round led by Innovestor Life Science Fund and Tesi, both headquartered in Finland. This is one of the largest rounds raised by a Finnish company in the med tech sector. The clinical-stage medical technology company develops Structural Heart cardiovascular products for transcatheter mitral valve repair. This capital injection will pave the way to further its Human Clinical trials and welcome new team members. The company already announced its new leadership team with the hiring of CTO Tim Girton and CEO Tom Fleming.
Tom Fleming joined as Chief Executive Officer in May of 2022, bringing HVR Cardio 21 years of experience at Boston Scientific, where he concluded in the role of VP and GM for its Structural Heart Valve Business. Prior to this role, Fleming served as CEO of 4Tech Inc. Tim Girton joined as Chief Technology Officer in July 2022, bringing a background that includes 23+ years at Boston Scientific, with his most recent role being VP of Research and Development, Interventional Cardiology.
HVR Cardio is developing a transformative technology for transcatheter mitral valve repair with its CathHELIX™ Annuloplasty System, for use by Structural Heart Physicians to treat mitral regurgitation (MR).
“The potential of this innovative technology is why I joined the team,” said Tom Fleming, CEO HVR Cardio. “This funding enables our next step into Human Clinical trials and allows us to expand our team.”
HVR Cardio’s new Helix ring technology is designed to be a simple, safe, and secure transcatheter annuloplasty procedure, allowing for a reduction or Mitral Regurgitation (MR) without tethering the native leaflets.
“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.
Caution: The CathHELIX device is an investigational technology and is not approved or cleared for use in patients in any geography.
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