Jenavalve ploughs on alone

Snippets

Jenavalve Technologies’ latest funding round provided $50m for the development of a catheter-mounted aortic valve. But it also highlighted the fact that the company, unlike many of its peers, has been unable to find a buyer. Jenavalve, New Valve Technology and Meril Life Sciences are the three groups whose transcatheter aortic prostheses have been approved in Europe but which have not been taken out by one of the big players here. Meril, owned by a single family and self-funding, does not want a buyout; but Jenavalve’s management has made no secret of its desire for an exit – and since its product was CE marked far earlier than these others its investors must be getting restive. Still, a consortium led by Bain Capital appears to have faith that it will get there in the end, presumably buoyed by the FDA awarding breakthrough device designation to the device last month. A US filing for humanitarian device exemption is planned for the second half of this year, as are supplementary EU filings.

CE marked transcatheter aortic valves
Company Product Originator and date of acquisition First CE mark date
Medtronic CoreValve franchise Corevalve, 2009 May 2007
Edwards Lifesciences Sapien franchise  In-house Sep 2007
Boston Scientific Acurate franchise Symetis Technologies, 2017 Sep 2011
Jenavalve Technologies JenaValve In-house Sep 2011
Abbott Portico St Jude Medical, 2017 Nov 2012
Direct Flow Medical Direct Flow valve In-house; company folded in 2016 Jan 2013
Boston Scientific Lotus franchise Sadra Medical, 2011 Oct 2013
New Valve Technologies Allegra In-house Apr 2017
Edwards Lifesciences Centera Development abandoned, July 2019 Feb 2018
Meril Life Science MyVal In-house Apr 2019
Source: EvaluateMedTech & company websites.

 

Jenavalve's VC funding
Date Round Investment ($m) Investors
Feb 2020 Series F 50.0 Bain Capital Life Sciences; Andera Partners; Gimv; Legend Capital; Neomed Management; RMM Consulting; Valiance; VI Partners
Aug 2017 Series E 9.4 Undisclosed
Aug 2016 Series D 10.0 Undisclosed
Aug 2015 Series C 99.0 Atlas Venture; Edmond de Rothschild Investment Partners; Gimv; Investor (Rudi Mariën); Legend Capital; Neomed Management; Omega Funds; Sunstone Capital; Valiance; VI Partners 
Mar 2010 Series B 25.8 Atlas Venture; Edmond de Rothschild Investment Partners; Neomed Management; Sunstone Capital; VI Partners
Sep 2007 Series A 18.5 Atlas Venture; Edmond de Rothschild Investment Partners; Neomed Management
  Total 212.7  
Source: EvaluateMedTech.

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