HighLife Secures €32 Million Series B Funding to Advance Clinical Development of Transcatheter Mitral Valve Replacement System

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that HighLife, a Paris-based cardiac therapy company, completed a €32 million Series B financing round on January 17 local time. The funds will be used to implement clinical trial plans for the implantation of prosthetic mitral valves. This plan had previously passed Early Feasibility Study (EFS) certification, obtained the CE mark, and received regulatory approval for the first clinical trials in the United States.

It is reported that this round of financing was jointly participated in by U.S. Venture Partners (USVP), Andera Partners, Sofinnova Partners, and investor Mr. Jose (Pepe) Calle Gordo. Notably, Sofinnova Partners also participated in HighLife’s Series A financing on October 30, 2017, which raised €12.3 million.

HighLife is a medical company specializing in the treatment of cardiac conditions such as mitral valve insufficiency. The company has developed a Transcatheter Mitral Valve Replacement (TMVR) procedure to help patients with mitral regurgitation restore normal cardiac function.

HighLife was founded by Georg Börtlein in 2010. Georg Börtlein primarily specializes in the field of cardiac diseases and holds 30 invention patents. Prior to establishing HighLife, he founded several cardiovascular medical technology companies, including CoreValve, which developed transcatheter aortic valve implantation (TAVI) technology and was acquired by Medtronic for over $800 million in 2009.

It is worth noting that Mr. Jose (Pepe) Calle Gordo, an investor in this round of financing, also serves as the Chairman of the Board of Directors at HighLife. With 30 years of experience in the medical device industry, Mr. Calle Gordo has served as CEO at several medical companies, including Abbott and Guidant, and was previously the Vice Chairman of the Board at Biosensors. He previously developed the Xience technology for the treatment of coronary artery disease and led the commercialization efforts for the MitraClip technology for percutaneous mitral valve repair.

Mitral Regurgitation (MR) is a serious heart condition characterized by the dysfunction of the mitral valve, one of the four cardiac valves. This dysfunction causes blood to flow back into the lungs with each heartbeat, rather than delivering oxygenated blood to the body’s organs. The disease typically presents with shortness of breath and, if left untreated, can progress to congestive heart failure or even death. Currently, in Western countries, over four million people suffer from mitral regurgitation. The mainstream treatment for this condition is high-risk open-heart surgery, which involves opening the heart to perform corrective procedures while the heart continues to beat.

HighLife’s transcatheter mitral valve replacement (TMVR) system enables patients to avoid high-risk open-heart surgery, restoring normal cardiac function through the implantation of a prosthetic mitral valve. The HighLife mitral valve replacement device consists of two components: the valve prosthesis and the subannular implant (SAI). The SAI draws the native valve leaflets toward the valve prosthesis, creating a sealed environment around the prosthesis to prevent any perivalvular leakage (PVL). HighLife’s mitral valve prosthesis features atraumatic rounded edges and accommodates the cardiac dimensions of most patients with mitral regurgitation.

Schematic Diagram of the HighLife Mitral Valve Prosthesis (Image sourced from the official website video)

“HighLife’s innovative therapies have demonstrated their competitive strength in the MR field,” said Mr. Tansey, Partner at USVP. “I am confident that HighLife’s experienced R&D team will translate this technology into clinical practice, providing patients with mitral regurgitation a new treatment option.”

Mr. Calle Gordo stated, “We are delighted to have gained the endorsement of these prominent investors, which underscores the reliability of HighLife’s technology.”

US Venture Partners (USVP) is a leading venture capital firm founded in 1981 and headquartered in Menlo Park, United States. The firm primarily invests in the information technology and healthcare sectors, providing financial support to companies at both early and late stages. To date, USVP has invested in 481 companies, helped 88 of them go public, and committed approximately $3.8 billion in total investment.

Andera Partners, formerly known as Edmond de Rothschild Investment Partners (EdRIP), was established in 1953. As a subsidiary of the Rothschild Group, it is a leading enterprise in the European financial sector. Its core operations are divided into two main areas: private banking and asset management. Currently, Andera Partners manages €2.3 billion in assets and has established 97 investment portfolios.

Sofinnova Partners is a venture capital firm based in Paris, France. Founded in 1972, the firm is dedicated to investing in companies in the fields of biopharmaceuticals, medical devices, and industrial biotechnology, with a primary focus on the European region. To date, it has invested in 500 companies at various stages of development and manages $1.1 billion in assets.