Germany-based medical device maker JenaValve Technology raised $26.5m in a third close of its series C round on Friday that featured Legend Capital, the corporate venturing arm of conglomerate Legend Holdings.
The third tranche, which increased the size of the round to $99m, was co-led by investment firm Valiance Asset Management and venture capital firm RMM. Atlas Venture, Edmond de Rothschild Investment Partners, Gimv, NeoMed Management and VI Partners also contributed funding.
JenaValve originally raised $62.5m for the round’s first close in July 2013. That tranche included Legend, Rothschild, Atlas, NeoMed, VI, Gimv, Sunstone Capital and Omega Funds. The company then secured an additional $10m in April 2014 from RMM and Valiance.
Founded in 2006, JenaValve’s technology revolves around transcatheter aortic valve repair systems, which it has developed to treat aortic valve disease, a condition in which the valve connecting the heart’s pumping chamber to the main artery does not properly work.
VI and Sunstone previously led JenaValve’s €19m ($26.2m) series B round in 2010, after Rothschild and Atlas provided €13.5m in series A funding in 2007.
Victoria Carr-Brendel, CEO of JenaValve, said: “As we advance our science and products to treat a broad range of patients with aortic disease, this round of funding will enable us to execute key clinical studies required to gain European regulatory approval and complete a US feasibility study for our new aortic valve and transfemoral delivery system.”