Polares Medical raises $40M
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Polares Medical Closes a $40M Financing to Complete Pilot Clinical Studies
On 25 June 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 the closing of a $40 million financing 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.