Edwards Lifesciences Corp. acquisition of Baltimore-based Harpoon Medical Inc. gives Edwards another minimally invasive tool to treat diseased mitral valves and rewards the faith of Epidarex Capital, an early investor in Harpoon Medical, that focuses on early-stage medical technologies in markets overlooked by most other venture capitalists.
Under the terms of the merger agreement announced Dec. 7, Edwards paid $100m in cash for Harpoon at closing on Dec. 1, and has agreed to pay up to $150m more in milestone payments over the next decade. Edwards obtained the option to buy Harpoon as part of an undisclosed investment in Harpoons Series B round of funding in December 2015