NeoChord Secures $7M Series D Funding to Advance Artificial Chordae Delivery System for Mitral Valve Repair

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that on April 24 (U.S. local time), medical technology company NeoChord completed a $7 million Series D financing round. The funds from this round will be used to support NeoChord’s research and development of an artificial chordae tendineae delivery system, aiding in mitral valve repair surgeries for patients with cardiovascular diseases.

It is reported that this round of financing was led by Strategic Healthcare Investment Partners. In addition, NeoChord has expanded its board of directors, with Dr. Mudit K. Jain, a partner at Strategic Healthcare Investment Partners, joining the NeoChord board.

NeoChord, a medical technology company founded in 2007 by President and CEO David Chung, specializes in the treatment of degenerative mitral valve disease.

Degenerative mitral regurgitation is the third most common cardiovascular disease in the United States. If left untreated, 35% of patients will die from the disease and its various comorbidities. This condition refers to the leakage of blood through the mitral valve due to incomplete closure caused by elongation or rupture of the native chordae tendineae. It typically worsens over time, presenting no abnormalities in the early stages but leading to various complications in later stages. Patients with severe mitral valve insufficiency may experience symptoms such as shortness of breath, fatigue, dizziness, coughing, palpitations, or ankle swelling.

There are two common treatment approaches for mitral regurgitation: medical management and surgical intervention. Medical management involves prescription medications aimed at minimizing the risk of complications associated with mitral valve insufficiency. Surgical intervention carries higher risks, requiring the medical team to temporarily arrest cardiac function and employ cardiopulmonary bypass or aortic cross-clamping techniques to maintain physiological stability during the procedure.

The artificial chordae tendineae delivery system developed by NeoChord is indicated for patients with moderate to severe degenerative mitral regurgitation. It enables minimally invasive procedures on a beating heart, utilizing echocardiographic guidance to restore mitral valve function. This surgical approach eliminates the need for cardiac arrest, thereby reducing operative risk. Furthermore, echocardiographic guidance assists the medical team in performing more precise mitral valve repairs, improving procedural success rates.

David Chung, CEO of NeoChord, stated, “We are delighted to have the support of new investors in this funding round. The capital will support further research and development of our artificial chordae tendineae delivery technology, aiming to improve cure rates for mitral regurgitation surgery. Meanwhile, we will expand our product market to ensure that more patients with cardiovascular diseases can access safer surgical treatments.”

Strategic Healthcare Investment Partners, founded in 2018 and headquartered in California, USA, is an early-stage venture capital firm. It has completed two investments to date, with annual investment amounts exceeding $2 million. The firm focuses on investing in startups in the healthcare sector and collaborates with experienced management teams to assist entrepreneurs in managing their companies.

(Compiled by Liu Yujing)