Apple Tree Partners leads $25m Tendyne Series C round


heart_lrgPharmaceutical and healthcare-focused venture capital firm Apple Tree Partners has led a $25m Series C financing round for medical device business Tendyne.

Apple Tree partner David McIntyre will join the board of directors at Tendyne, which makes devices to prevent blood leaking into a valve in the heart.

Tendyne founder and CEO Jeff Franco said, “This financing is a significant milestone for Tendyne.

“In 2013 Tendyne demonstrated positive human data and this infusion of capital allows us to move ahead confidently as we accelerate our minimally invasive mitral valve program.

“We are excited to have Apple Tree Partners come on board. We look forward to benefiting from their experience as we develop our technology and clinical presence.”

Last year Apple Tree backed a $35m Series E round for cancer-focused biotech company Tokai Pharmaceuticals.

That funding was slated to be used to develop Tokai’s lead prostate cancer candidate.

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