A replacement valve for replacing a damaged heart valve having a plurality of cusps separating an upstream region from a downstream region of a passage. The replacement valve includes a flexible band having biocompatible scaffolding sized for contact with a wall surrounding the passage in the patient's heart. The valve includes a resilient element attached to the flexible band for expanding the flexible band to contact the wall of the passage. The valve includes regenerative struts spaced around the flexible band. Each strut extends from an outboard end joined to an inward face of the flexible band to a central end. The central ends of the struts are joined together. The valve includes a flexible regenerative membrane joined to adjacent struts. The membrane extends outboard to an inward face of the band. An outboard edge of the membrane is free to move between a closed position and an open position.