Polares Medical Closes a $40M Financing

To to Complete Pilot Clinical Studies

June 25, 2020

Polares Medical SA a clinical-stage medical technology company focused on the development of a unique trans-catheter mitral valve hemi-replacement system to treat patients suffering from mitral regurgitation (MR), announced today the closing of a $40 million.

Polares Medical said the financing was led by Longitude Capital (Menlo Park) with the participation of Decheng Capital (Menlo Park), Endeavour Vision (Geneva), IDO Investments (Muscat), Earlybird Venture Capital (Berlin), and Wellington Partners (Munich).

Polares Medical’s solution to MR takes a novel approach to the original concept of hemi-replacement of the mitral valve by replacing the posterior leaflet with a prosthetic leaflet designed to enhance coaptation with the native anterior leaflet. Early clinical results have demonstrated the feasibility of this concept. “Polares’ approach to treating MR has the potential to be a new first-line treatment for a large range of both functional and degenerative mitral regurgitation patients. We are excited to partner with the Polares team and this strong group of syndicate partners in the advancement of this innovative hemi-replacement technology,” said Maxwell Bikoff of Longitude Capital.

Polares Medical closed a $25 million Series A financing in 2018 to bring the former Middle Peak Medical technology from an in-vivo proof of concept to a clinical first-in-human. “We achieved the Series A financing objective of bringing the Polares technology to the clinic. With this Series B financing, we intend to advance our clinical studies in Europe and the United States,” said Jacques Essinger, Ph.D., Chairman and CEO.

Hot this week

Medtronic Expands AiBLE Spine Surgery Ecosystem with New Technologies and Siemens Healthineers Partnership

New advancements in the AiBLE Spine Surgery ecosystem build upon the company's commitment to procedural innovation and execution

Axlab, Danish Medtech Pioneer, expands to US with Advanced Robotic Tissue Sectioning for Pathology Laboratories

Kris Rokke, National Sales Director for Axlab in the US. "My team and I are extremely excited and honored about this unique opportunity to also offer this advanced technology to labs across the US and thus contribute to the pathology labs of tomorrow."

Spartan Medical Broadens Single-Use Sterile Instrument Portfolio to Improve Outcomes, Increase Efficiency, and Generate Cost Savings

Spartan Medical products portfolio of single-use, sterile med tech includes micro and minor surgical convenience kits, kerrison rongeurs, spinal and general surgical retractors, dural repair kits, synthetic biologics, and a wide range of orthopedic pre-sterilized implants and devices.

Recor Medical Supports European Society of Cardiology’s Hypertension Guidelines

Record Medical notes the new guidelines, "2024 ESC Guidelines for the management of elevated blood pressure and hypertension," have been published online and recommend the consideration of renal denervation (RDN) as a safe and effective treatment option for patients who have uncontrolled resistant hypertension or those that have uncontrolled hypertension with a higher risk of cardiovascular disease, who express a preference to undergo RDN.

ConTIPI Medical Selects EVERSANA to Support U.S. Commercialization of Non-Surgical Medical Device ProVate for Women with Pelvic Organ Prolapse

EVERSANA is a leading provider of global commercial services to the life sciences industry, to support commercialization for the ProVate device in the United States to help women experiencing pelvic organ prolapse.