Date: 2014-12-02
Type of information: Series B financing round
Company: Xeltis (Switzerland)
Investors: Life Sciences Partners (LSP) (The Netherlands), Kurma Partners (France), VI Partners (Switzerland) and current shareholders of Xeltis
Amount: €27 million
Funding type: series B financing round
Planned used: The financing will primarily be used to fund market access activities for Xeltis’s first product, a pulmonary valve, and the development of the company’s product pipeline. The replacement pulmonary valve will be used to treat the orphan pediatric indication of severe congenital malformations of the heart. Xeltis is developing synthetic biodegradable heart valves and blood vessels (matrices), enabling a completely new therapeutic category called Endogenous Tissue Growth (ETG). In ETG surgeons use synthetic biodegradable implants designed to allow the body to repair itself by spontaneously growing natural, healthy tissue from the inside. Because the tissue produced through ETG is the patient’s own, the treatment has the potential to overcome the limitations of current standard of care. No foreign material is permanently implanted in the body, so long-term medication may no longer be needed. In addition, the risk of repeated surgeries may be reduced. Xeltis’ proprietary technology, based on Nobel prize-winning science, is designed to stimulate and guide the body’s natural healing response from the inside, leading to spontaneous growth of new valves and vessels within the body, once the matrices are implanted. The matrices are intended to biodegrade as natural tissue grows, leaving no foreign material behind.
Others: * On December 2, 2014, Xeltis, a privately-held medical device company dedicated to transforming standards of care in heart valve replacement and vascular surgery, has announced that it has raised €27 million (USD 34 million/CHF 32 million) in an oversubscribed Series B financing. Life Sciences Partners and Kurma Partners led the round, with participation from VI Partners and current shareholders of Xeltis.
Therapeutic area: Cardiovascular diseases - Medical devices
