Open Stent Solution, a medtech start-up company developing the first open-stent heart valves, today announced the closing of a €2.5 million Seed financing round. The funding will support the development of its ribbon-shaped stented mitral valve for transcatheter replacement.
OSS’ breakthrough device is the first-ever open-stent heart valve and the only device bearing the promise to implant large size mitral valves through small delivery systems, comparable in size to best-in-class TAVI (transcatheter aortic valve implantation). The OSS valve components are attached to a ribbon-shaped open stent, which drastically reduces the overall device’s size when loaded onto a delivery system, compared to conventional, radially expanding devices.
Once implanted, the OSS heart valve gets locked, forming a perfect circular shape, with stable radial anchoring force exactly like balloon expandable devices. OSS’ ribbon-shaped open stents have an unprecedented approach compared to existing stented heart valves, which are all cylinder-shaped and radially expanding.
“We are grateful to our investors for their trust and for their support to our venture. The financing enables us to proceed to concept freeze for our unique minimally invasive solution,” said Doctor Doron Carmi, senior cardiac surgeon, founder and CEO of Open Stent Solution. “In few years from now, we aim to offer an effective transfemoral solution to millions of patients with failed mitral valves who cannot access treatment today.”
There are currently no devices approved for transfemoral or transeptal transcatheter mitral valve replacement (TMVR). Today, most patients with severe mitral regurgitation are unsuitable for open heart surgery and cannot have their valves replaced.
The OSS funding round was led by Angels Santé, a French health business angel network, BeAngels, a Belgian business angel network, Bpifrance, the French government agency, and private investors, of which several cardiologists and cardiac surgeons.
“We have been impressed by OSS’s technology paradigm shift, which overrides radial expansion, whilst several start-up companies are currently trying to address TMVR challenges through more standard approaches,” stated Edouard Caram of Angels Santé. “As mitral regurgitation is continuing to grow as a result of an ageing global population, TMVR is expected to become one of the most prominent cardiovascular solution of the next decade.”