"Wellington Partners are true venture capital investors, understanding that one needs to sail beyond the horizon of first-hand perception to find new opportunities. Symetis is operating in a competitive environment to grab a significant part of a $1B market about to change hands; while technology is a given, strategy is the name of the game. During due diligence, we had the most challenging discussions with Wellington Partners, which led us to adjust our strategy for the best. With Wellington Partners on board, we know that we have strong support to bring Symetis to success."
Dr. Jacques Essinger
CEO, Symetis
Wellington contact:
Erich Schlick
| Change the market for valve replacement |
Swiss-based Symetis SA is the developer of a minimally invasive percutaneous valve replacement system called the StentValveTM that replaces malfunctioning heart valves. Due to its unique self-positioning design and the resulting unmatched positioning tolerance, physicians and patients benefit from the ease of use of this highly innovative system. In the coming years, a major portion of the $1 billion market for valve replacement, which is steadily growing due to an increasing age of the overall population and a rising incidence of atherosclerosis, will be captured by systems like the Symetis StentValveTM, which can be delivered using catheters thus avoiding the need for open heart surgery. These advantages will ultimately contribute to the reduction of hospital stay, co-morbidities, and cost.
With the CHF 4million raised from Wellington Partners and existing investors Truffle Capital, Novartis Venture Fund, and Aravis Venture, the company will finance further preclinical development and the First-In-Man study of its StentValveTM.
First investment: October 2008
Symetis SA
Avenue du Temple 19
1012 Lausanne
Switzerland
