Innovheart srl has landed more than $55 million to continue clinical trials of its transcatheter mitral valve replacement (TMVR) system for the treatment of mitral valve disease. The series C equity round was led by Grand Pharmaceutical Group Ltd. (Grand Pharma), together with existing investors Genextra, Panakes Partners and Indaco Venture Partners.

The U.K. National Institute of Health and Care Excellence (NICE) has examined the evidence for the use of mitral valve-in-valve procedures and found the evidence for safety is well rounded despite concerns about several complications.

A research team from the National University Health System (NUHS) was awarded a translational grant of S$4.9 million (US$3.6 million) from the National Research Foundation Singapore Central Gap Fund to further develop its personalized mitral valve bioprosthesis. Currently, around 500 patients in Singapore and more than 1 million around the world require mitral valve surgery annually.

Tioga Medical Inc. closed a $30 million series B financing led by The Capital Partnership (TCP), with participation from Cormorant Asset Management, Amed Ventures and Shifamed angel investors. The financing will be used to advance product development, support preclinical testing, and initiate clinical experience for the company's transcatheter mitral valve replacement technology.

Neovasc Inc. has hit pause on its Tiara transfemoral mitral valve replacement (TF) program and is cutting its workforce by more than 40%, citing the additional time and substantial investment required to develop the program and the associated costs. The changes are expected to extend its cash runway from about 18 months to more than three years. The changes were implemented with about 18 months to remain solvent as part of a series of actions to focus on enhancing current shareholder value and focusing investments on near-term value drivers, namely the Reducer stent and the Tiara transapical mitral valve replacement (TA) system.