HVR Cardio Raises Series B Funding and Introduces New Leadership Team

January 12, 2023—HVR Cardio, a Finland-based clinical-stage medical technology company developing transcatheter mitral valve repair (TMVR) devices, announced that it has closed on a €10.7 million ($11.1 million) Series B round of financing. The round was led by Innovestor Life Science Fund and Tesi, which are headquartered in Finland.

HVR Cardio is developing the CathHelix annuloplasty system for TMVR to treat mitral regurgitation (MR).

According to the company, its Helix ring technology is designed to be a simple, safe, and secure transcatheter annuloplasty procedure, allowing for a reduction of MR without tethering the native leaflets. The CathHelix device is an investigational technology and is not approved or cleared for use in patients in any geography, advised the company.

The company also announced a new leadership team with the hiring of Tom Fleming as CEO in May 2022 and Tim Girton as Chief Technology Officer in July 2022.

Mr. Fleming has 21 years of experience at Boston Scientific, where he concluded in the role of Vice President and General Manager for its Structural Heart Valve Business. Before that, Mr. Fleming served as CEO of 4Tech Inc. Mr. Girton’s background includes > 23 years at Boston Scientific, most recently as Vice President of Research and Development, Interventional Cardiology.

In the company’s press release, Mr. Fleming stated, “The potential of this innovative technology is why I joined the team. This funding enables our next step into human clinical trials and allows us to expand our team.”