Italian heart device company Sorin Group has made a minority investment with option-to-buy in HighLife SAS, an early-stage company focused on the development of what it calls a unique transcatheter mitral valve replacement system to treat patients with mitral regurgitation. In so doing, the company has effectively made sure it has a presence in what promises to be a pretty dynamic market in the near future. In what looks like a perfect piece of symbiosis, ts investment will help HighLife realise its product.
HighLife, located in Paris, was co-founded in 2010 by Georg Börtlein. Börtlein was a co-founder and Chief Operating Officer at CoreValve Inc., one of the pioneers in the development of the transcatheter aortic valve replacement products.
Sorin’s €4.2 million initial investment will finance on-going product development and clinical testing of the technology. Under the terms of the agreement, Sorin has also acquired an exclusive option to acquire the company in the future. This investment represents an ideal complement to the recently announced investment in Cardiosolutions, which is developing an innovative percutaneous mitral repair system.
“The HighLife investment is an important step forward in our long-term plan to build a significant new growth platform in percutaneous mitral valve therapies,” said André-Michel Ballester, CEO of Sorin Group, “This is consistent with Sorin’s Strategic Plan to accelerate top-line growth through investments in innovation.”
“We are delighted to have Sorin Group, a leading European medical device company, as our strategic partner, given our complementary expertise and shared commitment to mitral valve technology. Together, we look forward to developing a unique and less invasive solution for patients suffering from mitral regurgitation,” said Georg Börtlein, President and CEO of HighLife.
Source: Sorin Group