Navigation Links
Middle Peak Medical Raises an Additional $3M to Develop Novel Mitral Valve Technology
Date:10/28/2013

MUNICH and PALO ALTO, California, October 28, 2013 /PRNewswire/ --

BioMedPartners and Edwards LifeSciences Join Series A in Second Closing

Middle Peak Medical, a development-stage medical device company that will commercialize a novel technology for treating mitral valve disease, has raised an additional $3M in a second closing of its over-subscribed Series A financing, which now totals approximately $11M. Additional Series A investors include BioMedInvest II LP and Edwards LifeSciences (NYSE: EW). Lead investors Wellington Partners and Seventure Partners, added to their investment from the first close, which also included High-Tech Gruenderfonds.

The proceeds will provide capital for further development of Middle Peak's unique technology for treating mitral valve disease. Middle Peak has R&D operations in Palo Alto, and its clinical and regulatory operations in Europe.

Michael D. Lesh, MD, CEO and co-founder of the Company, commented: "We are delighted to have Biomed Partners and Edwards LifeSciences as additional investors. Their involvement further affirms our novel approach to treating mitral valve disease. These additional resources will further accelerate pre-clinical and clinical development. Middle Peak intends to bring significant benefit to patients with mitral regurgitation, the most common valvular heart disease."

BioMedPartners' Thomas Moeller commented: "We are very excited to have the opportunity to invest in Middle Peak. This is breakthrough technology. We see great potential of their devices to revolutionize the care of patients with mitral regurgitation."

Wellington Partners' Regina Hodits, PhD added: "We are delighted to have BioMedPartners and Edwards LifeSciences join the Series A syndicate of investors, and for Wellington to add to our initial investment. Middle Peak's strong management team, including Dr. Lesh and his co-founder, Alex Khairkhahan, are making significant progress in developing this truly novel, elegant device."

Seventure venture partner Robert Schier, PhD noted that: "Middle Peak has a breakthrough technology that addresses a vast unmet need in the treatment of cardiac disease. We have every confidence in Dr. Lesh and Mr. Khairkhahan, who have previously brought a number of medical devices from conception to successful market entry, and are thrilled to add such well-regarded investors to our syndicate, and to expand our lead investment."

About Middle Peak Medical

Middle Peak Medical is a privately held medical device company, focused on developing a break-through device to meet unmet needs in the treatment of mitral valve disease. The Company's technology has application in both minimally invasive cardiac surgery, and catheter-based percutaneous intervention. Mitral regurgitation (MR) is the most common form of heart valve disease in the U.S. and Europe, with moderate to severe disease affecting 1-2% of the population. Normally, the mitral valve closes when the main pumping chamber of the heart, the left ventricle, contracts, preventing oxygen-carrying blood from flowing backward into the left atrium. MR occurs when the valve fails to seal completely. Patients with MR can experience difficulty breathing, weakness, heart failure, and even death.

Middle Peak Medical currently has operating entities in Germany and the United States.

About Wellington Partners

Wellington Partners is among the most successful pan-European Venture Capital firms. With more than € 800 million under management and offices in Munich, London and Zurich, Wellington Partners invests in start-up companies throughout Europe that have the potential to become global leaders in the areas of digital media, resource efficiency and life sciences.

Since 1998, Wellington Partners has invested in more than 100 companies, including publicly listed firms like Actelion, Evolva, Wavelight (acquired by Alcon) and Xing, as well as privately held companies like AyoxxA, Grandis (acquired by Novartis), immatics, implanet, invendo medical, mtm laboratories (acquired by Roche), Oxagen, Oxford Immunotec, Quanta, Sapiens, Sensimed, Supersonic Imagine, Symetis and Spotify. For further information, please visit http://www.wellington-partners.com.

About Seventure Partners

As one of the leading venture capital firms in Europe, Seventure manages more than €500 million and, since 1997, invests in innovative businesses with high growth potential in software, internet, hardware & telecom in France and Germany, and in life sciences throughout Europe. In life sciences, we invest in biotech & pharmaceuticals, medical devices, industrial biotech, cleantech, and microbiota, nutrition & lifestyle. We also consider investments in diagnostics, biomarkers, drug delivery systems, environment, bio-energy, and services. A typical investment ranges from €500,000 to €5 million per round, up to €10 million per company, from early to later stage. Seventure is a subsidiary of Natixis, the corporate, investment management and financial services arm of Groupe BPCE, the second-largest French bank.

About High-Tech Gründerfonds Management

High-Tech Gruenderfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gruenderfonds invests € 500,000 in the seed stage, with the potential for up to a total of € 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Technology, the KfW Banking Group, as well as strategic corporate investors including ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Lanxess, media + more venture Beteiligungs GmbH & Co. KG, METRO, Qiagen, RWE Innogy, SAP, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 573.5 million under management in two funds (€ 272 million HTGF I, € 301.5 million HTGF II). For further information, visit http://www.htgf.de‎

About BioMedPartners

BioMedPartners is one of the leading European venture capital firms providing private equity and mezzanine financing to early- and mid-stage healthcare and human life science companies. Their team consists of experienced investment professionals with extensive expertise in investing and building healthcare companies. Currently, BioMedPartners manages two investment vehicles, BioMedInvest I and BioMedInvest II with a total capital under management of CHF 250 million. Both funds invest in innovative early- to mid-stage companies that have the potential to achieve exceptional growth driven by novel technologies, products or services with unique advantages over current treatments. Based in Basel, BioMedPartners has successfully invested in 40 human life science companies over the last ten years, of which a number has already been listed on the stock exchange or have been acquired by leading players in the pharmaceutical industry.

For further information, please contact: info@middlepeakmedical.com

 


'/>"/>
SOURCE Middle Peak Medical
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Decision Resources Market Access Tracker Now Covers the Middle East and Africa
2. Middle East & Africa Medical Device Market Reports
3. New Findings Offer Systemic Solutions to Address Non-communicable Diseases (NCDs) in Low- and Middle-income Countries
4. Middle East and Africa Anesthesia and Respiratory Devices Market Outlook to 2018 - Respiratory Devices, Respiratory Measurement Devices, Anesthesia Machines, Sleep Apnea Diagnostic Systems, Pain Management Devices and Others
5. More than Morning Sickness: Kate Middletons Pregnancy Announcement Draws Attention to Rare Pregnancy Condition Known as Hyperemesis Gravidarum (HG)
6. Oncobiologics and Boston Oncology Team Up to Deliver Biosimilar Therapies for Cancer and Immune Disease to Middle East and North African Markets
7. New Study Highlights Enabling Factors for Biopharmaceutical Innovation in Middle-Income Countries
8. Emerging Pharmaceutical Markets in the Middle East
9. montméd, Inc. to Market FRiO Insulin Wallets in 20 countries of Middle East and North Africa
10. Middle East and Africa ENT Devices Market Outlook to 2018 - Diagnostic Devices, Hearing Aid Devices, Hearing Implants and Others
11. Vaginal Mesh Lawsuits Pick Up Momentum, According To Pulaski & Middleman, LLC
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/23/2017)... , March 23, 2017 /PRNewswire/ - Medicure Inc. ... Canadian specialty pharmaceutical company, is pleased to announce ... final approval from the U.S. Food and Drug ... application ("ANDA") for tetrabenazine tablets in the 12.5 ... product is a generic equivalent of the branded ...
(Date:3/23/2017)... The global dermatology devices market ... by 2025, according to a new report by Grand View ... faster rate due to rising concern amongst people regarding esthetics. ... esthetic procedures used for treating hair - and skin-related disorders. ... as the highest revenue generators for the market. ...
(Date:3/22/2017)... , 22 de marzo de 2017   ... líder de soluciones de productos y servicios para ... que ha adquirido EPL Archives, Inc., una organización ... clientes en todo el ciclo de vida de ... una muestra de archivo, almacenamiento de documentos y ...
Breaking Medicine Technology:
(Date:3/23/2017)... ... March 23, 2017 , ... ... with all Americans facing life-altering and fatal diseases in opposition to the ... decisions that would eviscerate care, services, and hope for the most vulnerable among ...
(Date:3/23/2017)... ... March 23, 2017 , ... ... European Guidelines and the New MEDDEV 2.7/1 Rev. 4 Guidance, **An FDAnews ... http://www.fdanews.com/mdclineval                  , How will the new EU MDR language change the ...
(Date:3/23/2017)... (PRWEB) , ... March 23, 2017 , ... News Advisory/Interview ... Choice has helped score a major victory in Europe for public health and the ... , Based on rigorous scientific research and the overwhelming support of European citizens, ...
(Date:3/23/2017)... ... ... “My Journey Through Heaven”: the true-life account of a man who faced death and ... Heaven for His people. “My Journey Through Heaven” is the creation of published author ... six grandchildren living and doing for God as best they can. , Published by ...
(Date:3/23/2017)... (PRWEB) , ... March 23, 2017 , ... “The Trainer”: ... creation of published author, Scotty, a fiction writer with an active imagination and an ... Scotty’s new book follows the tale of Wild Bill Hart, who sat looking at ...
Breaking Medicine News(10 mins):