# NeoChord

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/neochord

- Industry: Medical Devices & Equipment
- Headquarters: St. Louis Park, US
- Website: www.neochord.com
- Total disclosed funding: $42M
- Latest round: Series D (Apr 23, 2019)
- Investors on record: 10

## About

NeoChord, Inc. is a medical technology company specializing in advanced mitral valve repair solutions, focusing on minimally invasive procedures to enhance patient outcomes and recovery.Founded in 2007, NeoChord, Inc. is based in St. Louis Park, US. The company specializes in innovative medical technology centered around treatment for mitral valve regurgitation. NeoChord has successfully raised a total of USD 3.80 mn in its Series D funding round in April 2019 from investors including Treo Ventures, valuing the company at USD 42.86 mn. David Chung and Todd Berg serve as the current CEOs.NeoChord, Inc. specializes in innovative medical technology focused on the advancement of mitral valve repair through its core product, the NeoChord Artificial Chordae Delivery System (Model DS1000). This system provides a minimally invasive, echo-guided procedure for treating mitral valve regurgitation, restoring normal mitral valve function. The technology allows for the retensioning of artificial chordae tendineae during a beating heart procedure, enhancing procedural control and preserving further treatment options for patients. Cardiac surgeons and healthcare professionals involved in treating mitral valve insufficiency are the primary end users of this technology, which is marketed primarily in Europe where the CE marking is recognized.NeoChord generates revenue through the sale of its medical devices, specifically the NeoChord Artificial Chordae Delivery System and related consultation services, such as NeoChord ConsultConnect and ConnectCARD. The business model involves direct sales to healthcare facilities, allowing surgeons to order the device for surgical procedures. Although specific pricing is not disclosed, transactions typically occur on a per-case basis, aligning with the needs of hospitals and surgical centers. The company’s revenue is supported by partnerships with healthcare providers, enabling access to advanced mitral valve repair solutions for patients with mitral valve regurgitation.NeoChord, Inc. plans to utilize recent funding to enhance its product offerings and expand into new markets. The Series D funding round raised USD 3.80 mn, part of a larger USD 32 mn round, which will support upcoming product designs and launches, although specific release dates are not disclosed. The company is also targeting expansion in additional European markets and looks to enter new regions where mitral valve repair solutions are needed. By leveraging its recent funding, NeoChord aims to ensure broader access to its innovative technologies.

## Funding rounds

- Series D, Apr 23, 2019, $3.8M — Treo Ventures
- Series D, Oct 31, 2018, $21M — Baird Capital Partners, US Venture Partners, Deerfield Management
- Series C, May 20, 2015, $13M — Baird Capital Partners, TGap Ventures, Heron Capital, CHV Capital, Hopen Life Science Ventures, Deerfield Management
- Series B, Jul 29, 2011, $5.1M — TGap Ventures, Heron Capital, CHV Capital, Twilight Venture Partners, Hopen Life Science Ventures, Mayo Clinic

## Investors

- TGap Ventures (https://capitalatlas.ai/funds/tgap-ventures) — Series B, Series C
- Heron Capital (https://capitalatlas.ai/funds/heron-capital) — Series B, Series C
- CHV Capital (https://capitalatlas.ai/funds/chv-capital) — Series B, Series C
- Twilight Venture Partners (https://capitalatlas.ai/funds/twilight-venture-partners) — Series B
- Hopen Life Science Ventures (https://capitalatlas.ai/funds/hopen-life-science-ventures) — Series B, Series C
- Mayo Clinic — Series B
- Baird Capital Partners (https://capitalatlas.ai/funds/baird-capital-partners) — Series C, Series D
- Deerfield Management (https://capitalatlas.ai/funds/deerfield-management) — Series C, Series D
- US Venture Partners (https://capitalatlas.ai/funds/us-venture-partners) — Series D
- Treo Ventures (https://capitalatlas.ai/funds/treo-ventures) — Series D