France-based cardiac installation technology developer HighLife Medical has closed a €12.3m ($14.3m) funding round that included medical device producer LivaNova.
Venture capital firm Sofinnova Partners led the round, which also featured HighLife’s CEO and founder, Georg Börtlein.
Founded in 2010, HighLife has designed a mitral valve replacement system to alleviate a heart condition in which the valve leaks blood toward the lungs. A ring positioned around the damaged valve allows surgeons to insert a replacement without making dangerous incisions into vulnerable heart tissue.
LivaNova subsidiary Sorin Group had invested $6m in HighLife in 2012, acquiring an option to buy the business to complement its $8m investment in mitral valve technology developer Cardiosolutions in 2012.
The funding will be used to advance HighLife’s clinical research and R&D development initiatives. Additional cash will help HighLife expedite the patient recruitment process for clinical trials in countries such as France and Germany.
HighLife concluded a five-patient trial in September 2016 which demonstrated that its valve system could operate normally over a follow-up period of up to four months.