The Zurich-based startup company Xeltis develops bioabsorbable heart valves and blood vessels. Following a successful Series C financing round, it now plans to accelerate the clinical development and marketing of these products, announced a statement.
Existing institutional and private investors participated in the extremely successful funding round, which was led by a global strategic investor and the venture capital fund Ysios Capital.
“This robust financing provides us with the resources necessary to catapult our strategy forward,” commented CEO Laurent Grandidier in the statement. He added that his company was aiming for a quick expansion of its aortic and pulmonary valve programs.
Xeltis’ implants are made of bioabsorbable polymers moulded into a porous matrix. Following implantation, they act as a heart valve or other cardiovascular component.
During the healing process, cells pervade the matrix and develop new tissue. The natural body part gradually resumes its full function, while the polymer matrix is bioabsorbed, leaving behind healthy endogenous tissue.
The startup has already published promising trial results for aortic valves. For pulmonary valves, the first clinical trial is underway in Asia and Europe.
Xeltis was founded in 2006 as a spin-off from the University of Zurich (UZH). It later merged with the Dutch company Qts/e and now has headquarters in both Eindhoven and Zurich.