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§ Private Profile · Saint Louis Park, MN, USA
NeoChord is a technology company.
NeoChord develops and commercializes its Artificial Chordae Delivery System, an innovative medical device designed for beating heart mitral valve repair. This technology enables surgeons to perform valve repair procedures without requiring cardiopulmonary bypass, thereby offering a less invasive treatment option for patients suffering from mitral valve regurgitation. The system precisely delivers artificial chordae to support the valve leaflets, restoring proper function while the heart continues to beat.
The company was founded in 2007 by John Seaberg, who identified a critical need for advanced solutions in cardiac surgery. Seaberg's vision aimed to overcome the significant challenges and patient risks associated with traditional open-heart mitral valve repair, which typically involves stopping the heart and placing the patient on a heart-lung machine. This foundational insight paved the way for developing a pioneering approach to address a widespread cardiovascular condition.
NeoChord primarily serves patients diagnosed with degenerative mitral valve regurgitation, providing them with a transformative alternative to conventional surgical methods. The company's ongoing mission centers on advancing the field of beating heart mitral valve repair, striving to improve patient outcomes and expand access to less invasive treatment modalities globally. NeoChord is committed to pushing the boundaries of cardiovascular medical technology.
NeoChord has raised $63.8M across 7 funding rounds.
NeoChord has raised $63.8M in total across 7 funding rounds.
NeoChord, Inc. is a privately held medical technology company developing minimally invasive devices for beating-heart repair of mitral valve regurgitation (MR), a condition caused by ruptured or elongated chordae tendineae leading to mitral leaflet prolapse. Their flagship product, the NeoChord DS1000 Artificial Chordae Delivery System, enables echo-guided implantation of artificial chordae via thoracotomy on a beating heart, avoiding open-heart surgery and sternotomy. It serves cardiac surgeons and patients with moderate to severe degenerative MR, addressing the limitations of highly invasive traditional repairs that often delay treatment until symptoms worsen, potentially leading to heart failure or atrial fibrillation. The company holds CE Mark approval for DS1000 (since 2012) and is advancing the investigational NeoChord Nexus TMVR device, with first-in-human success in 2021.[1][4][5][2]
NeoChord is venture-backed, including investment from Baird Capital in 2015, and has licensed its initial technology exclusively from Mayo Clinic. Growth momentum includes global procedure adoption, publications on mid-term outcomes, and expansions like retensioning procedures and treatments for complex cases such as dextrocardia.[3][4][5]
NeoChord's technology originated from cardiac surgeons at Mayo Clinic, who developed the core concept of beating-heart chordae implantation; the company secured an exclusive worldwide license to commercialize it.[1] Founded as a venture-backed medtech firm (exact year not specified in available data, but CE Mark achieved in 2012), NeoChord emerged to tackle degenerative MR, a progressive disease affecting millions where current surgeries are effective but deter patients due to invasiveness.[1][2][4]
Early traction came with DS1000's CE Mark approval in December 2012, enabling commercial use in Europe for artificial chordae delivery.[2] Pivotal moments include ongoing clinical validations, such as 2021 publications on echo-guided outcomes and the first-in-human Nexus procedure in France/Germany, demonstrating safe transcatheter deployment.[2][4] Headquartered in Maple Grove, MN (previously Minnetonka), the company has evolved from DS1000 to pipeline innovations like Nexus for structural heart disease.[1][4][5]
NeoChord rides the transcatheter structural heart revolution, mirroring trends in TAVR and MitraClip by shifting mitral repair from invasive surgery to endovascular/beating-heart options amid aging populations and rising MR prevalence (affecting ~2% over age 65).[1][2] Timing aligns with post-CE Mark adoption and 2021 Nexus milestones, capitalizing on demand for less morbid alternatives that enable earlier intervention and avert heart failure epidemics.[1][4]
Market forces favor it: venture backing (e.g., Baird Capital) sustains R&D; surgeon-led design integrates decades of expertise into venous access, influencing ecosystems via publications, training (ConsultConnect), and preserved options for hybrid therapies.[2][3][4] NeoChord advances "direct repair" paradigms, potentially expanding to full TMVR and competing in a $5B+ structural heart market.
NeoChord is poised for U.S. pivotal trials and FDA clearance of DS1000/Nexus, leveraging European momentum and Mayo heritage to capture share in minimally invasive MR repair. Trends like AI-echo integration, combo devices, and value-based care will accelerate adoption, especially as MR undertreatment persists. Their influence may evolve toward a full structural heart platform, transforming timely interventions and reducing cardiac events—echoing the high-level promise of sternal-sparing innovation for millions.[1][2][5]
NeoChord has raised $63.8M in total across 7 funding rounds.
NeoChord's investors include Mudit Jain, Deerfield Management, Casey Tansey, Arboretum Ventures, Baird Capital, Endeavor Venture Funds, Avi Kometz, CHV Capital, Heron Capital, Michael Fulton, TGap Ventures, Ryan Dammeyer.
NeoChord has raised $63.8M across 7 funding rounds. Most recently, it raised $7.0M Series D Extension in April 2019.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Apr 24, 2019 | $7M Series D Plus | Mudit Jain | — | Announced |
| Nov 1, 2018 | $25M Series D | Deerfield Management, Casey Tansey | Arboretum Ventures, Baird Capital, Endeavor Venture Funds | Announced |
| Jun 1, 2015 | $20M Series C | AVI Kometz | Arboretum Ventures, Baird Capital, Endeavor Venture Funds, CHV Capital, Heron Capital, Michael Fulton, Tgap Ventures | Announced |
| Oct 24, 2013 | $3M Debt Financing | Ryan Dammeyer | — | Announced |
| Aug 2, 2011 | $5M Venture Round | — | — | Announced |
| Jan 18, 2011 | $1M Debt Financing | — | — | Announced |
| Jul 6, 2009 | $2.8M Venture Round | — | — | Announced |