HVR CARDIO CLOSES ON $11 Million SERIES B FINANCING WITH FINLAND'S INNOVESTOR LIFE SCIENCE FUND AND TESI

HVR Cardio Announces New Leadership Team With Hiring Of CTO Tim Girton, CEO Tom Fleming

HELSINKI, Finland and MINNEAPOLIS, Jan. 12, 2023 /PRNewswire/ -- HVR Cardio, a clinical stage medical technology company developing Structural Heart cardiovascular products for transcatheter mitral valve repair, announced today that it has closed on its 10.7 million Euro ($11.1M US) Series B Round of financing. This Series B Round was led by Innovestor Life Science Fund and Tesi, both headquartered in Finland.

At the same time, HVR Cardio announced its new leadership team with the hiring of:

• Tom Fleming, who joined as Chief Executive Officer in May of 2022, bringing HVR Cardio 21 years of experience at Boston Scientific, where he concluded in the role of VP and GM for its Structural Heart Valve Business. Prior to this role, Fleming served as CEO of 4Tech Inc.
• Tim Girton joined as Chief Technology Officer in July 2022, bringing a background that includes 23+ years at Boston Scientific, with his most recent role being VP of Research and Development, Interventional Cardiology.

HVR Cardio is developing a transformative technology for transcatheter mitral valve repair with its CathHELIX™ Annuloplasty System, for use by Structural Heart Physicians to treat mitral regurgitation (MR). "The potential of this innovative technology is why I joined the team," said Tom Fleming, CEO HVR Cardio. "This funding enables our next step into Human Clinical trials and allows us to expand our team." HVR Cardio's new Helix ring technology is designed to be a simple, safe, and secure transcatheter annuloplasty procedure, allowing for a reduction or Mitral Regurgitation (MR) without tethering the native leaflets.

"MR is a common valvular heart disease impacting millions of people and leaving a significant need for better treatment options. We are truly excited about the elegant and minimally invasive CathHELIX™ technology that will offer new hope for patients," comments Pekka Simula, Partner of Innovestor Life Science.

Caution: The CathHELIX device is an investigational technology and is not approved or cleared for use in patients in any geography

HVR Cardio is a Finnish cardiovascular device company that is developing breakthrough solutions for mitral valve repair based on its proprietary helix technology. Its mission is to develop solutions that are faster, easier to use, and less invasive without compromising clinical efficacy. For more information, visit www.hvrcardio.com.

Innovestor is a Finnish investment company focusing on venture capital and real estate. In addition, we offer corporate venturing services. The firm currently manages four VC funds with total capital of over €200 million. Consisting of almost 100 growth companies across multiple sectors of technology and life science & health, it represents one of the largest private venture-backed portfolios in the Nordics. Our mission is to make good money. For more information, visit www.innovestorgroup.com LinkedIn Twitter 

Tesi wants to raise Finland to the forefront of transformative economic growth. We develop the market, and work for the success of Finnish growth companies. We invest in private equity and venture capital funds and directly in growth companies. We provide long-running support, reasoned insights, patient capital, and skilled ownership. tesi.fi | Twitter | LinkedIn | Newsletter

SOURCE HVR Cardio