Polares Medical, a Lausanne, Switzerland-based preclinical stage medical technology company focused on the development of a trans-catheter mitral valve hemi-replacement system to treat patients suffering from mitral regurgitation (MR), closed a $25m financing.
The round was led by Decheng Capital (Menlo Park and Shanghai) together with Endeavour Vision (Geneva), IDO Investments (Muscat), Earlybird Venture Capital (Berlin) and Wellington Partners (Munich).
Led by Jacques Essinger, Ph.D, Chairman and CEO, Polares Medical provides a solution to treat MR based on the original concept of hemi-replacement of the mitral valve, i.e. the replacement of the posterior leaflet with a prosthetic leaflet designed to enhance coaptation with the native anterior leaflet.
The company was created as a spin-off of Symetis SA to develop the mitral technology that Symetis obtained through its acquisition of Middle Peak Medical GmbH, prior to Boston Scientific Corporation’s acquisition of Symetis in 2017.