NeoChord, Inc., a St. Louis Park, Minn.-based medical technology company, completed a $25m Series D equity financing.
The round was led by U.S. Venture Partners and co-led by Deerfield Management with continued participation from Baird Capital.
The company intends to use the funds to accelerate the development of its transcatheter chordal repair and edge to edge programs.
Founded in 2007 by David Chung, President and Chief Executive Officer, NeoChord is a medical technology company advancing beating heart mitral valve repair in patients suffering from mitral valve regurgitation. The company’s flagship product, the NeoChord Artificial Chordae Delivery System, which received CE market clearance in December 2012, allows for a minimally invasive procedure via a transapical incision on a beating heart without the need for cardio-pulmonary bypass or aortic cross-clamping. With this procedure, the surgeon uses real-time feedback in the OR, to precisely adjust the length of the newly placed chord and to reduce and eliminate mitral valve regurgitation all while the heart is beating.
In the United States the NeoChord Artificial Chordae Delivery System, Model DS1000 is for Investigational Use Only and is limited by Federal (United States) law to Investigational use.