Andera Partners’ portfolio company JenaValve Technology acquired by Edwards Lifesciences

PRESS RELEASE

Andera Partners’ portfolio company JenaValve Technology acquired by Edwards Lifesciences

• JenaValve Technology has signed an acquisition deal with Edwards Lifesciences.
• The company achieved major advancements in the treatment of aortic regurgitation (AR), already available in Europe and with an FDA approval expected by late 2025, which will represent the first approved therapy for patients suffering from AR.
• This exit underpins Andera Partners’ capacity for durable support to highly innovative companies and its leadership in cardiovascular innovations.

Paris, France and Munich, Germany – July 25th, 2024 – Andera Partners, a leading European private equity player, announced today that its portfolio company, JenaValve Technology, a pioneer in the transcatheter treatment of aortic regurgitation (AR), will be acquired by Edwards Lifesciences, a leading medical technology company specializing in the development and manufacturing of products for the treatment of heart diseases and a pioneer in valve innovation for more than 60 years. This acquisition represents a significant milestone for Andera Partners, showcasing the firm’s successful and flexible investment strategy.

Olivier Litzka, Partner at Andera Partners in Munich, and member of JenaValve's advisory board since the company’s inception, commented, "We are very happy to announce this important medtech transaction for Andera Partners, which marks the culmination of our dedicated support and strategic vision for JenaValve, completing a long and finally successful journey with the JenaValve team and the syndicate of great investor colleagues. Since our first investment in the Series A round, Andera Partners has continuously supported the company from its early days in Munich and later through its strategic move to Irvine, California. This time also encompasses JenaValve's first phase of developing and commercializing a trans-apical TAVI device, later switching successfully to a transfemoral valve, and focusing on aortic regurgitation.”

JenaValve Technology has made groundbreaking advances in the transcatheter treatment of aortic regurgitation, a severe and currently untreated condition affecting a growing population. With positive results from its U.S. pivotal trial for treating symptomatic, severe AR in high-risk patients, the company is on track for U.S. FDA approval of the JenaValve Trilogy Heart Valve System by late 2025.

“JenaValve’s success today is the result of overcoming development challenges inherent to highly innovative devices, then achieving CE mark approval, and most recently, publishing outstanding clinical data demonstrating best-in-class positioning of its valve. It is a great transition to see today’s acquisition of JenaValve by Edwards Lifesciences that is uniquely positioned to lead this next frontier of aortic valve disease treatment and will be able to bring the Trilogy valve effectively and globally to patients with AR. We want to thank the whole JenaValve team, the colleagues on the board, and in particular the many engaged doctors for their continued hard work, energy, and support for the company,” Litzka added.

Andera Partners Life Sciences pursues a targeted investment strategy in Europe and in the US, with a focus on groundbreaking therapeutic products and innovative medical technologies. The broad investment spectrum ranges from start-ups and early-stage companies to growth and late-stage investment opportunities. Besides other areas like neurostimulation or robotics, one of the several key areas of interest and expertise for Andera Partners is the cardiovascular sector, both in drugs and devices, ranging from electrophysiology and hypertension to heart failure. It is with JenaValve and similar companies that the firm grew its expertise in the cardiovascular device market, followed by other significant investments in this thriving field. In structural heart diseases, besides JenaValve in aortic valve diseases, Andera Partners invested into the French-US mitral valve company HighLife and French-German tricuspid valve company TRiCares, positioning Andera at the forefront of heart valve technology.

Edwards Lifesciences communicated that the investment would strengthen its leadership in structural heart innovation and represent long-term growth opportunities. The acquisition is subject to the satisfaction of certain closing conditions, including the receipt of required antitrust and foreign investment approvals.

About JenaValve

JenaValve Technology, Inc. is a medical device company focused on the design, development, and commercialization of innovative THV solutions for the treatment of patients suffering from heart valve disease. The Company’s Trilogy THV System is a TAVR system designed to treat patients with symptomatic, severe AR, and symptomatic, severe aortic stenosis who are at high surgical risk. The Trilogy THV System received CE Mark approval, providing European physicians with the first TAVR device with true dual-disease treatment capabilities.

JenaValve is headquartered in Irvine, California, with additional locations in Leeds, United Kingdom, and Munich, Germany.

JenaValve is backed by Bain Capital Life Sciences, Andera Partners, Valiance Life Sciences, Rosetta Capital, Cormorant Asset Management, Legend Capital, NeoMed Management, RMM, VI Partners, Pictet Alternative Advisors SA, Qatar Investment Authority (QIA), Innovatus Capital Partners, and Peijia Medical Limited. Additional information is available at www.jenavalve.com.

US: CAUTION – Investigational device. Limited by Federal (or United States) law to investigational use.

About Andera Partners

Created over 20 years ago, Andera Partners is a major player in private company investments in France and internationally. Its teams manage €4.2 billion in investments in life sciences (Andera Life Sciences), growth and buyout capital (Andera MidCap, Andera Expansion/Croissance, Andera Co-Invest), sponsorless transactions (Andera Acto) and ecological transition (Andera Infra). 

Based in Paris, with offices in Antwerp, Milan and Munich, Andera Partners is wholly owned by its teams, which count nearly 115 professionals, of which 69 investment professionals. It is structured as a partnership and managed by a board of 13 partners.

Andera’s 15-person life sciences team brings together extensive experience in the life sciences industry, private equity and venture capital. Active since 2000, the team has raised over €1.1 billion through its BioDiscovery family of funds and is currently investing from its BioDiscovery 6 fund. Since inception, the BioDiscovery funds have invested in more than 75 European and U.S. biotech and medtech companies. For further information please visit: www.anderapartners.com

Media Contacts 

• Nicolas DELSERT, Andera Partners: +33 6 22 67 71 17, n.delsert@anderapartners.com
• Dr. Cora KAISER, MC Services: +49 89 210 228 0, andera@mc-services.eu