TLDR:
- CereVasc, a medical device company, raised $70M in Series B funding led by Bain Capital Life Sciences and Perceptive Xontogeny Venture Fund.
- The funds will support the development of its eShunt System for patients with Normal Pressure Hydrocephalus.
CereVasc, a Boston-based clinical-stage medical device company, has successfully raised $70M in Series B financing. The funding round was led by Bain Capital Life Sciences and existing investor Perceptive Xontogeny Venture Fund, with additional participation from other existing investors. Evan Greif from Bain Capital Life Sciences will be joining CereVasc’s Board of Directors in light of this new funding.
The company plans to use the funds to further support the clinical and regulatory development of its eShunt System, particularly for its upcoming STRIDE pivotal study in patients with Normal Pressure Hydrocephalus. The eShunt System represents a novel, minimally invasive treatment option for patients with neurological diseases, providing a potential improvement to the current standard of care.
CEO Dan Levangie expressed excitement about the commitment shown by the investors, citing it as a testament to the progress made with the eShunt System and the potential for transforming hydrocephalus treatment. With this new financing, CereVasc is poised to advance its pivotal clinical trial and pave the way for regulatory approvals.
Overall, this Series B funding represents a significant milestone for CereVasc as it continues to develop innovative solutions for patients in need of better treatment options for neurological diseases.
