Dutch-Swiss health biotech startup Xeltis has raised €45 million euro in an over subscribed C round to further the development of its polymer-based heart valve replacement technology. Ysios Capital led the round. Existing investor, LSP, Kurma Partners and VI Partners also participated. The Dutch life sciences investment firm, Life Sciences Partners (LSP) is one of Europe’s largest and most experienced healthcare investment firms. With the new invest Xeltis funding now totals over 119 million USD.
Founded in 2006 Xeltis is developing is polymer-based hearth valve that functions as a mould to start building a natural hearth valve. The synthetic valve attracts healthy cells, that start developing tissue in and around the valve. As the new valve heals, the implant is gradually decomposed by the same cells that form the new tissue.
The startup will use the capital raised to further clinical activities, as well as ramp up product and market development for Xeltis’ aortic and pulmonary valve programs.
The introduction of Xeltis bioresorbable hearth valve could mean a big step forward in helping specially young children that have heart defects from birth. Right now these children have to undergo risky surgeries where polymer or animal material based hearth valves are implanted that are not bioresorable. This often results in multiple surgeries, because the body reduces the effectivness of the valve over time.
“Xeltis is eager to provide patients who need heart valve replacement with a new option offered through our restorative technology, to ultimately improve their lives and reduce healthcare system costs,” said CEO Laurent Grandidier in an announcement. “This robust financing provides us with the resources necessary to catapult our strategy forward—supporting quick expansion of our aortic and pulmonary valve programs and strengthening our quest to redefine heart valve replacement therapy.”
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