InnovHeart, a developer of transcatheter mitral valves, has pulled in more than $55 million in its series C round.

The measure also included the Milan, Italy-based company granting an exclusive licensing agreement to Grand Pharmaceutical Group for the Saturn device in Greater China.

Series C equity round was led by Grand Pharma, together with the existing investors Genextra, Panakes Partners and Indaco Venture Partners confirming their ongoing support by joining this investment round.

“Interventional treatment for mitral regurgitation is considered to be one of the most challenging areas in the field of structural heart disease, yet also represents huge market potential, estimated to reach $17.4 billion globally in future years,” said Keith Dawkins MD, Chairman of InnovHeart Board. “This strategic agreement will provide InnovHeart with resources that will accelerate the development of the trans-septal version of the Saturn system into First-in-Human clinical trials, as well as access to the dynamic Chinese structural heart market.”