Middle Peak Medical, a development-stage medical device company that will commercialize a novel technology for treating mitral valve disease, has raised $8.5 million in a Series A financing. The round was co-led by healthcare investment specialists Wellington Partners and Seventure Partners, along with seed investor High-Tech Gründerfonds Management GmbH (HTGF).

The proceeds will provide capital for further development of Middle Peak's unique technology for treating mitral valve disease. Following the financing, Middle Peak is establishing some of its clinical and regulatory operations in Europe. The Company's R&D center will remain in Palo Alto.

Michael D. Lesh, MD, CEO and co-founder of the Company, commented: "We are delighted to partner with Wellington, Seventure, and HTGF. They bring tremendous value to our operations. Our internal financing allowed us to show strong proof-of-concept of the Middle Peak mitral implant. We now have the resources to accelerate pre-clinical and clinical development. Middle Peak intends to bring significant benefit to patients with mitral regurgitation, the most common valvular heart disease."

Wellington Partners' Regina Hodits, PhD added: "Middle Peak's strong management team, including serial entrepreneurs Dr. Lesh and his co-founder, Alex Khairkhahan, have created a truly novel, elegant device addressing all major manifestations of mitral valve disease. We have evaluated a number of technologies in the mitral space, and have not seen anything comparable. I look forward to working with them to take the company to the next level.

About Middle Peak Medical
Middle Peak Medical is a privately held medical device company, focused on developing a break-through device to meet unmet needs in the treatment of mitral valve disease. The Company's technology has application in both minimally invasive cardiac surgery, and catheter-based percutaneous intervention. Mitral regurgitation (MR) is the most common form of heart valve disease in the U.S. and Europe, with moderate to severe disease affecting 1-2% of the population.

Normally, the mitral valve closes when the main pumping chamber of the heart, the left ventricle, contracts, preventing oxygen-carrying blood from flowing backward into the left atrium. MR occurs when the valve fails to seal completely. Patients with MR can experience difficulty breathing, weakness, heart failure, and even death.

Middle Peak Medical currently has operating entities in Germany and the United States.