Polares Medical Raises $50 Million in Series C Funding
Polares Medical, a medical device company located in Lausanne, Switzerland, has successfully raised $50 million in a Series C funding round. The company is known for its innovative approach to treating mitral valve regurgitation, a common heart valve disorder.
Investors and Leadership
The funding round was led by DC Global Ventures, with participation from Lumination Partners. This injection of capital will support the company's ongoing efforts to refine its medical technology and expand its operations.
Alex Khairkhahan, the inventor and founder of Polares Medical, also serves as the Chief Operating Officer and General Manager. Under his leadership, the company has been developing the MRace Posterior Leaflet Replacement system, a transcatheter therapy aimed at treating patients with mitral regurgitation.
CEO Jacques R. Essinger commented on the development: "We believe Posterior Leaflet Replacement represents a new chapter in transcatheter mitral therapy."
Strategic Use of Funds
Polares Medical plans to utilize the funds primarily to expand its research and development activities. The company aims to enhance its MRace system, which has already shown promising results in clinical trials. With over 70 patients treated and positive one-year data, the system is demonstrating sustained safety and efficacy.
Looking Forward
The Series C funding positions Polares Medical to further advance its treatment options for complex mitral regurgitation. This round of investment will enable the company to continue its work in transforming the landscape of transcatheter mitral therapy, potentially offering new hope for patients with this challenging condition.
Polares Medical's ongoing commitment to innovation in heart valve treatment underscores its role as a key player in the medical device industry, particularly in the realm of structural heart conditions.