Symetis Raises CHF25M in Equity Financing

Symetis SA, a Lausanne, Switzerland-based company developing new transcatheter aortic valve implantation (TAVI) systems, has raised CHF25m (approximately $25.8m) in new financing.
The round was co-led by Endeavour Vision and NBGI Ventures, with participation from existing investors Truffle Capital, Novartis Venture Fund, Wellington Partners, Vinci Capital – Renaissance PME, Banexi Ventures and BiomedInvest.
As also stated by Dr. Jacques R. Essinger, CEO of Symetis, this financing round gives the company the means to commercially launch its first product, conduct Acurate TF™ clinical validation and initiate the US approval process.
The company announced in September positive preliminary results from its first-in-man clinical study for its lead product Acurate TA™, a self-aligning, nitinol stented tissue heart valve. Acurate TA™ is designed for optimal trans-apical delivery, providing the physician with unmatched positioning tolerance and ease of use. 
In parallel, Symetis is conducting pre-clinical validation of Acurate TF™, a trans-femoral TAVI solution based on similar design principles, scheduled to enter clinical trials in 2011.
In conjunction with the funding, Damien Tappy, General Partner at Endeavour Vision, and John E. Milad, Investment Manager at NBGI Ventures, will both join the company’s board of directors. 
Symetis also appointed Eric Milledge as Chairman of the board.


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