JenaValve Expands Series C Venture Financing Round
Valiance and RMM Join Second Closing Bringing Total Round to $72.5 Million;
New Board Member Appointed
WILMINGTON, Del. & MUNICH -- April 8, 2014
JenaValve Technology, Inc., a privately-held, venture-backed developer,
manufacturer and marketer of transcatheter aortic valve implantation (TAVI)
systems for the treatment of aortic valve disease, announced today that it has
secured an expansion to its Series C venture round of $10 million, increasing
the total amount raised in the round from $62.5 million to $72.5 million.
New investors participating in the expansion of the round are UK-based
Valiance Asset Management and Belgium-based RMM. Current investors
participating in the financing round include Edmondde Rothschild Investment
Partners; Atlas Venture Fund; NeoMed Management; VI Partners
AG;SunstoneCapital A/S; Gimv (GIMB.EN), a publicly traded investment
company; Legend Capital and Omega Funds.
The company also announced the addition of a new director and a board observer
in conjunction with the financing round. Industry veteran Jan Keltjen was
appointed to the JenaValve board of directors, effective December 30, 2013. In
addition, renowned life sciences entrepreneur and financier Rudi Mariën has
been appointed as an observer to the board.
“JenaValve continues to build momentum in the European TAVI market with our
novel transapical TAVI system,” said Helmut J. Straubiger, CEO of JenaValve
Technology. “As we continue to work to gain clinical experience with our
transfemoral TAVI system and build out international regulatory and commercial
programs, we welcome the participation of new world-class investors and the
governance and experience of Mr. Keltjens and Mr. Mariën as director and board
Mr. Keltjens is the chairman and CEO of Steering Brain Stimulation (Sapiens),
a medical device company pioneering brain stimulation products. He has a
strong track record in the medical device sector and more than 30 years of
management experience, including the role of president and CEO of Endosense
SA, which was acquired by St. Jude Medical in August 2013. He has also worked
as CEO and/or chairman in a number of medical device companies worldwide,
including CryoCath Technologies Inc., Montreal, Canada (acquired in 2008 by
Medtronic); AngioDynamics Inc, Albany, New York, U.S.; and Surpass Medical
Ltd., Tel Aviv, Israel/Sunrise, Florida, U.S. (acquired in 2012 by Stryker).
Mr. Mariën was co-founder, reference shareholder and chairman of Innogenetics,
and has been the founder, shareholder and managing director of several
clinical reference laboratories. Currently, he is managing director of Barc
NV, a leading international centralized clinical laboratory exclusively
dedicated to pharmaceutical studies. He has different mandates as CEO and
director at Barc USA, Barc Inc, Barc RSA and Laboraco BVBA. He is vice
president of Cerba European Lab and president and CEO of Gengest Bvba and
Biovest ComVa. Through his management company, Gengest BVBA, he has board
mandates in different public and private biotech companies.
Transcatheter aortic valve implantation (TAVI) systems have already yielded
nearly $1 billion in revenues worldwide and the market is expected to grow to
over $3 billion in 2016^1. Clinicians are now focused increasingly on TAVI
technical and procedural refinements and advancements found in
second-generation products such as JenaValve’s that address and resolve issues
including ease of implantation, the need for post-procedure pacemaker
implantation and post-implant paravalvular leakage.
About the JenaValve™ TAVI System
The JenaValve is a true second-generation catheter-based aortic valve
implantation system engineered and manufactured to the highest quality
standards. The JenaValve transapical TAVI system is currently being sold in
Europe and other markets worldwide. The Company’s transfemoral TAVI system
entered into a first-in-man clinical study at the end of 2013 and is
anticipated to be commercially available for sale in 2015.
*The JenaValve prosthesis consists of a natural aortic porcine root
bioprosthesis fitted with an outer porcine pericardial patch, a so-called
skirt, before being sewn onto a Nitinol self-expanding stent. The
high-quality bioprosthesis is durable, ensuring long-term aortic valve
*JenaValve’s unique “3-feeler element” allows the clinician to accurately
position the prosthesis in the anatomically correct position during
implantation thus ensuring the correct implantation height and a precise
sub-coronary alignment within the patient’s native valve.
*JenaClip™ anchoring and clamping mechanism allows the prosthesis to be
clamped onto the patient’s native valve leaflets enabling the JenaValve to
be firmly anchored in the correct anatomical position and provide active
fixation and resistance to migration.
*The JenaValve implantation is conducted on the beating heart. Hemodynamic
flow is maintained without cardiac arrest and rapid pacing is not required
during the procedure. The low profile and the open cell design of the
stent prosthesis ensures open flow to the coronaries after the
implantation. The JenaValve is available in three sizes, 23mm, 25mm and
27mm, covering aortic valve annuli from 21mm to 27mm.
*JenaValve is retrievable and repositionable thereby contributing to a
successful procedure and confidence of the clinician.
About JenaValve Technology, Inc.
JenaValve Technology, Inc., a U.S. corporation with primary operations in
Munich, Germany, develops, manufactures and markets transcatheter aortic valve
implantation systems (TAVI) to treat patients suffering from aortic valve
disease. JenaValve was founded in 2006 by cardiologists and inventor’s Prof.
Hans R. Figulla, M.D. and Prof. Markus Ferrari, M.D. The company’s transapical
aortic valve system is CE marked and currently marketed in Europe and other
markets worldwide. JenaValve is backed by world-class U.S., European and Asian
investors. Additional information is available at www.jenavalve.com.
1) Goldman Sachs Global Investment Research
JenaValve Technology Inc. and JenaValve Technology, GmbH
Stephan Wehselau, CFO
+49 895 527 9080
Pure Communications, Inc.
Matt Clawson, +1-949 370 8500
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