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JenaValve closes €10 million Series A-2 financing round


DELAWARE, USA and MUNICH, Germany, September 21, 2007 - JenaValve™ Technology, a medical device company specialized in developing minimally-invasive heart valve replacement systems, today announced that it has secured €10 million in its series A-2 financing led by Paris-based Edmond de Rothschild Investment Partners (EdRIP). Existing investor Atlas Venture was also a significant participant in this round, which was complemented by an additional new investor, NeoMed. JenaValve has now secured sufficient funds to complete the clinical phase of its first product, scheduled for mid 2009.

Dr. Olivier Litzka, Partner at EdRIP commented on the financing, “JenaValve convinced us to invest through a combination of the thorough development approach of the medical founders which is clearly oriented both by the medical need and the safety requirements, and the operational experience and excellence of the management team. More generally, we see JenaValve positioned as leading the second generation of minimally-invasive aortic replacement systems.”

Dr. Litzka will sit on JenaValve’s Board of Directors, joining existing board members Helmut Straubinger, Dr. Regina Hodits, Dr. Dr. Markus Ferrari and Tor Peters. Dr. Carl Christian Gilhuus-Moe, Partner at NeoMed, will join the board as observer. Gilhuus-Moe said, ”Our investment in JenaValve fits perfectly with our investment focus and we are happy to join the syndicate.” Atlas Venture Partner Dr. Regina Hodits added, “Atlas Venture is proud to have been a founding investor in JenaValve. The additional funding and investor expertise provided by this strong syndicate will allow JenaValve to create significant value by driving this unique product towards approval.”

Commenting on the announcement, JenaValve’s CEO Helmut Straubinger said, “Our percutaneous heart valve replacement system differentiates from other known techniques in two important ways: firstly, our new valve clip mechanism enables a biological valve implant to be affixed and firmly anchored into the damaged aortic valve; secondly, thanks to specially-constructed feelers, our stent valve can be positioned exactly before final release and catheter retraction. These features offer essential advantages for patients, with high potential to reduce mortality when compared to conventional procedures; and for doctors, providing a safe and uncomplicated implantation technique. He added, ”We are currently finalizing these features which will be the springboard for market readiness. With our second round of financing, we have raised a total of € 13.5 million to support product finalization, patent and marketing activities, pre-clinical and clinical trials and serial production. We expect CE certification by end 2008 or early 2009.”

About JenaValve Technology

JenaValve Technology is a medical device company specialized in developing minimally-invasive heart valve replacement systems. The company is currently developing aortic valve replacement systems for the transfemoral and the transapical approach. JenaValve systems feature several differentiators: an auto positioning mechanism used to place the implant safely and accurately, the possibility of repositioning at any time during the entire procedure, an unrivaled fixation technique for attaching the aortic valve on the stent and a unique clip-based anchoring mechanism. These features enable JenaValve to build an outstanding AVR system that offers maximum safety for patients and interventionists alike. In its initial market entry phase, the company’s products will be targeted at high-risk patients unsuitable for open heart surgery. Unlike competitive products, JenaValve’s system can become the ideal option for patients suffering from heart insufficiency. As the system becomes the AVR procedure of choice, it is expected that its benefits will become equally attractive to all other potential heart patients. The JenaValve European headquarters is in Munich, Germany; its holding is b


Publisher Contact Information:

Lucy Turpin Communications
+49 (0)89 417761-42
jenavalve@lucyturpin.com

Company profile of JenaValve Technology GmbH
Past press releases of JenaValve Technology GmbH.

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