Wellington Partners et al. in €22m series-B for Tricares

Francesca Veronesi
04 June 2018

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A consortium of international backers has invested €22m in France-based Tricares, a specialist in tricuspid regurgitation treatment.

The financing round was led by incoming investors Wellington Partners, Andera Partners and BioMed Partners. Historical backers CM-CIC Innovation, CapDecisif Management and Go Capital have also reinvested.

Proceeds from the financing will be used to advance product development, conduct clinical trials and gain CE registration in Europe.

Previous funding
Go Capital, CapDecisif and CM-CIC Innovation provided a €2.2m seed funding round for the business (then known as Mitricares) in 2015.

The seed round was aimed at helping the startup launch its product line – a percutaneous implant used for the treatment of valve failure due to tricuspid insufficiency.

Company
Tricares was founded in September 2013 and designs medical implants used for the treatment of malfunctioning heart valves among tricuspid insufficiency patients.

It develops a transcatheter-based tricuspid valve replacement system aimed at addressing the need for a better treatment for this frequent and severe disease that avoids open heart surgery.

Tricares is headquartered in Paris with operations in Munich, Germany. The company has 10 employees in total.

People
Tricares – Helmut J Straubinger (CEO).
Wellington Partners – Regina Hodits (managing partners).
Andera Partners – Sofia Ioannidou (director).
BioMedPartners – Thomas Moeller (general partner).
CapDecisif Management – Catherine Boule (managing partner).
Go Capital – Leila Nicolas (investor director).
CM-CIC Innovation – Emilie Lidome (deputy managing director).