Polares Medical announced that it closed a $50 million Series C financing round to support its heart leaflet replacement system.
Lausanne, Switzerland-based Polares designed its MRace posterior leaflet replacement (PLR) system for treating mitral regurgitation (MR). The company aims to provide an alternative to typical treatments for MR, including transcatheter edge-to-edge repair (TEER), for which companies like Abbott, Edwards and more offer technologies.
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Polares says that TEER “transformed the treatment landscape.” However, anatomical complexities can limit applicability in certain patients. Its technology particularly targets those with secondary MR. The MRace PLR system aims to expand transcatheter treatment options across a broad spectrum of mitral anatomies. Polares hopes to simplify the procedure and preserve future treatment pathways.
The financing builds on accelerating clinical momentum, as Polares reports more than 70 patients receiving MRace implants. DC Global Ventures, Lumination Partners, existing investors and a new strategic investor helped deliver the $50 million round. Polares plans to use the funds to advance clinical studies in the U.S., Europe and Australia.
“We believe posterior leaflet replacement represents a new chapter in transcatheter mitral therapy,” said Jacques R. Essinger, Polares CEO. “With over 70 patients of clinical experience and encouraging one-year data demonstrating sustained safety and efficacy, we have established a strong foundation for MRace. This financing positions us to advance the treatment paradigm for complex mitral regurgitation.”
