Colibri Heart Valve seeking $25M Series C funding round
BROOMFIELD — Medical-device company Colibri Heart Valve LLC is seeking to raise a $25 million Series C funding round to help fuel a clinical program to gain CE Mark clearance to market its heart valve outside the United States.
The company disclosed the size of the funding round in a recent filing with the U.S. Securities and Exchange Commission. Broomfield-based Colibri has so far closed on $1.25 million in the round.
Eric Schauble, vice president of corporate development, said the goal is to close the round by the end of the year. He said money from the round will also be used to ramp up development of a second type of valve.
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Schauble said he expects that the 18-person company will likely grow by five to 10 employees over the next 12 months as a result of those objectives.
The company’s Colibri TAVI System is a balloon-expandable heart valve that can be implanted without requiring full open-heart surgery. The second generation of the valve under development would be a self-expanding model that would leverage a recently granted patent.
Founded in 2010, Colibri has raised $15 million to date. The company is pre-revenue.
The company early last year spun off Colorado Therapeutics LLC into a standalone entity to monetize some of Colibri’s technology in applications outside of the heart.
Colibri officials noted in February that they would be launching a Series C round but did not disclose the size of the round at the time.
