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news.US-based medical device company Evalve has completed a $60 million series D financing that was led by BBT Fund.
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This financing will enable Evalve to begin preparations for commercialization of the MitraClip device in Europe and continue to move toward US approval of the product by completing enrollment in its Everest pivotal study.
The MitraClip device is intended to treat mitral regurgitation by percutaneously repairing the mitral valve allowing patients to avoid the risks, trauma and costs associated with current open, arrested heart surgical treatment.
Delphi Ventures, New Enterprise Associates, Split Rock Partners, Cutlass Capital, Integral Capital Partners, ABS Ventures, Emergent Medical Ventures and Abbott Laboratories were the other investors.
Ferolyn Powell, president and CEO of Evalve, said: “We are pleased that this financing will allow Evalve to progress toward commercialization of our MitraClip device for percutaneous mitral repair.”