NeoChord has raised $45.0M in total across 2 funding rounds.
NeoChord's investors include Arboretum Ventures, Baird Capital, Endeavor Venture Funds.
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 $45.0M across 2 funding rounds. Most recently, it raised $25.0M Series D in November 2018.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 1, 2018 | $25.0M Series D | Arboretum Ventures, Baird Capital, Endeavor Venture Funds | |
| Jun 1, 2015 | $20.0M Series C | Arboretum Ventures, Baird Capital, Endeavor Venture Funds |
