CereVasc, a Boston, MA-based clinical-stage, medical device company, raised $70M in Series B funding.
The round was led by Bain Capital Life Sciences and existing investor Perceptive Xontogeny Venture Fund (PXV), with additional participation from other existing investors.
In conjunction with the financing, Evan Greif, a Vice President at Bain Capital Life Sciences, will join CereVasc’s Board of Directors.
The company intends to use the funds to support the clinical and regulatory development of its eShunt System, including its upcoming STRIDE pivotal study in patients with Normal Pressure Hydrocephalus.
Led by CEO Dan Levangie, CereVasc is a clinical stage, medical device company focused on the development of novel, minimally invasive treatments for patients with neurological diseases. Its initial product, the eShunt System, encompasses percutaneous transvenous-transdural access to the central nervous system intended to allow the first minimally invasive treatment for communicating hydrocephalus (CH), a potential improvement to the current standard of care.
Commenting on the news, Dan Levangie said: “Their commitment is a testament to the clinical progress we have made with the eShunt System, and to the potential we have to transform hydrocephalus treatment. We are now well positioned to execute our pivotal clinical trial in advance of regulatory approvals.”
FinSMEs
13/05/2024