Xeltis, an Eindhoven, The Netherlands- and Zurich, Switzerland-based clinical-stage medical device company advancing a restorative approach in heart valve therapy, completed a €45 million ($52m) Series C financing.
The round was led by a global strategic investor with participation from venture capital fund Ysios Capital and a number of large private investors. Existing institutional investors (LSP, Kurma Partners and VI Partners) and private investors also participated in the financing.
The financing will support continuation of clinical activities and acceleration of product and market development for the company’s novel aortic and pulmonary valve programs.
Led by CEO Laurent Grandidier, Xeltis is a clinical-stage medical device company developing heart valves and blood vessels enabling the body’s natural restoration of heart valve function through a therapeutic approach called Endogenous Tissue Restoration (ETR).
The company’s cardiovascular implants are made of bioabsorbable polymers.