Finnish medtech HVR Cardio raises €10.7M in a Series B round
The Espoo-based medtech startup HVR Cardio has raised €10.7 million in a Series B round to hire new management team members. The round was led by Innovestor Life Science Fund, with participation from Tesi.
- Founded in 2009 HVR Cardio, is a clinical-stage medical technology company developing structural heart cardiovascular products. The company develops transcatheter mitral valve repair solutions based on its CathHELIX Annuloplasty System, for use by Structural Heart Physicians to treat mitral regurgitation.
- The solution makes it possible to repair the fault without demanding open-heart surgery. Meanwhile, the CathHELIX device is an investigational technology and is not approved or cleared for use in patients in any geography.
- The round was led by Finish investment company, focusing on venture capital and real estate, also offering corporate venturing services Innovestor Life Science Fund. The Helsinki-based Tesi which invests in venture capital, private equity funds, and directly in growth companies, also participated in the round.
”HVR Cardio develops solutions that provide a new treatment option for a disease with a heavy global burden. We are excited to support the company in the next important development stage, namely the first clinical trials for the CathHELIX product,”Miia Kaye, Investment Manager at Tesi says
- In addition to the financing, HVR Cardio announces a new leadership team by hiring CEO Tom Fleming and CTO Tim Girton. Both have long histories at Boston Scientific, one of the leading global med tech players within the cardiovascular space.