Swiss TAVI developer raises $25.8M, appoints board chair

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Symentis, a transcatheter aortic valve implantation (TAVI) device developer, has raised CHF25 million (U.S. $25.8 million) in the current round of financing, which was co-led by Endeavour Vision and NBGI Ventures.

The Lausanne, Switzerland-based company said that Truffle Capital, Norvartis Venture Fund, Wellington Partners, Vinci Capital, Renaissance PME, Banexi Ventures and BiomedInvest and all existing investors participated in the financing.

In September, the company released the initial results of its clinical trial surrounding the assessment of the Acurate TA, a nitinol stented tissue heart valve. The transfemoral TAVI technology is scheduled to enter clinical trials and set to receive CE mark in 2011, according to Symentis.

The company also announced that it has appointed Eric Milledge as chairman of its board of directors. Milledge, a previous Johnson & Johnson chairman, was responsible for LifeScan and a member of the medical devices and diagnostics group operating committee.