Longitude Capital leads $40m round for Polares Medical

The company plans to use the fresh equity to advance its clinical studies in Europe and the US.

New investor Longitude Capital focuses on venture and growth investments in healthcare companies, targeting both clinical- and commercial-stage businesses.

Previous funding
Polares Medical raised a $25m series-A round in 2018, backed by Decheng, Earlybird, Endeavour, Ibtikar Development Oman (IDO) and Wellington Partners. Earlybird backed the round via Earlybird Health Fund which held a final close in August 2018 on €85m.

Company
Polares Medical develops medical device technology in the form of a prosthetic leaflet to treat the heart condition called mitral valve regurgitation. The condition can cause fatigue and shortness of breath in patients, since the mitral valve does not close tightly enough and therefore allows blood to flow back into the heart.

Polares is based in Lausanne and has an additional office in Palo Alto. The company was founded in 2017 as a spin-off from its parent company Symetis, which was acquired by Boston Scientific.

People
Longitude Capital – Maxwell Bikoff (principal).
Earlybird – Thom Rasche (partner).
Polares Medical – Jacques Essinger (chairman, CEO).

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• Topics
• Expansion
• DACH
• Healthcare
• Venture
• Switzerland
• Earlybird
• Wellington Partners