Finnish cardiovascular device company HVR Cardio has closed a €10.7M ($11.1M) financing round, led by Finnish VC investor Innovestor Life Science Fund.

The financing is one of the largest rounds raised by a Finnish company in the medtech sector. The Series B round was led by the Finnish venture capital investor Innovestor with its new Life Science fund, with Tesi participating in the investment round.HVR Cardio is developing breakthrough solutions for mitral valve repair, the most common valvular heart disease, impacting approximately 15 million people in Europe and the US. The current surgical options are suitable for only a small proportion of people. CathHELIX™, the elegant, catheter-based solution by HVR Cardio, makes it possible to repair the fault without the need for demanding open-heart surgery. The solution has already been granted Breakthrough Device Designation status by the FDA (United States Food and Drug Administration), meaning it is considered a possible breakthrough that could significantly improve the treatment of a serious illness.”HVR Cardio is a fantastic example of the world-leading innovation capacity in life sciences in the Nordics, and a company that can help solve a global health burden,” says Pekka Simula, Partner at Innovestor Life Science in their press release.Health Capital Helsinki