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Swiss medtech startup Xeltis raises €10.5 million to develop its novel tissue regeneration treatment for heart disease

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Swiss startup Xeltis has announced the close of a €10.5 million Series D financing round to support its vascular and valve trial programmes. The funding was provided by existing institutional and private investors, including all VCs already financing the company. Xeltis previously raised an oversubscribed Series C round of €45 million in 2017.

Cardiovascular diseases are the leading cause of death globally. Xeltis is a clinical-stage medical device company pioneering a tissue restoration approach in cardiovascular therapy. Xeltis’ devices are designed to enable natural restoration of a patient’s blood vessels, and therefore cardiovascular function, through a therapeutic approach called Endogenous Tissue Restoration (ETR).

The new treatment has potential to replace less effective and more dangerous methods of treating cardiovascular diseases, namely Coronary Artery Bypass Graft (CABG) and heart valve replacement.

Positive outcomes from preclinical trials from Xeltis vascular applications in small diameter vessels have been shared at recent international scientific meetings. Its restorative pulmonary heart valves are currently in clinical trials in EU, Asia, and in the USA. Xeltis’ revolutionary technology was first successfully implanted in patients over five years ago, with 28 patients receiving Xeltis devices to date.

“Xeltis’ technology is radically novel, it is addressing essential unmet vascular and valve clinical needs and it is showing promising results in trials that granted sustained support from current investors,” said Clemens van Blitterswijk, acting Chairman of Xeltis’ Board. Blitterswijk a Dutch scientist and internationally recognised pioneer in tissue regeneration. He’s also a partner at Dutch VC LSP, which led the Series D round.

“We are very excited about the ongoing support of Xeltis existing investors, following the expansion of our strategy into vascular applications,” said CEO Eliane Schutte. “We are leveraging the positive results from ongoing clinical and pre-clinical trial programmes to bring the development of natural cardiovascular restoration to the next phase.”

Xeltis institutional investors include VCs LSP, Kurma Partners, VI Partners, and Ysios.

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