Edwards Lifesciences Corp. in Irvine has invested in Harpoon Medical Inc., a Baltimore-based start-up company developing a “minimally invasive” product to surgically repair mitral valves in the heart.
The amount of the investment wasn’t disclosed; Edwards said terms include an exclusive option to buy Harpoon, which spun out of the University of Maryland School of Medicine.
The startup raised $5.2 million to date: $2 million in convertible debt as part of a bridge loan in September and $3.2 million in Series A funding last year, reports said.
Past funding has been used to pursue approvals for Harpoon’s device in Europe, which is still in feasibility trials. The company recently reported a 100% success rate in 10 patients with mitral valve disease.