GALWAY, Ireland--(BUSINESS WIRE)--Neuravi, a company dedicated to better clinical outcomes for stroke patients, today announced €15 million in venture debt financing from IPF Partners, a leading alternative financing provider focused on the healthcare sector.
This financing allows Neuravi to invest in U.S. commercialization and stroke treatment portfolio expansion, building upon successful commercialization of the company’s EmboTrap® Revascularization Device in Europe and rapid progress enrolling the ARISE II U.S. pivotal study.
Landmark acute stroke clinical trials published in 2014 and 2015 demonstrating the superiority of stent retriever technology in treating large vessel strokes have driven a surge in the number of stent retriever procedures. Based on extensive physician engagement and Neuravi’s groundbreaking work on the science of clot, Neuravi has built a strong pipeline of products focused exclusively on acute ischemic stroke and intends to commercialize this pipeline globally in the years ahead.
“With the recent European launch of the EmboTrap II device and the excellent progress in enrolling our pivotal clinical trial, we are making significant headway in delivering next-generation technology for stroke treatment to physicians. This financing allows us to build our commercial presence in the U.S. and further invest in R&D for our exciting product pipeline,” said Eamon Brady, Neuravi CEO. “We see significant innovation opportunity due to the under-developed stroke treatment ‘toolbox’ available to stroke clinicians today. Our vision is to design and build devices that truly address the needs of acute stroke patients and put them in the hands of stroke physicians all over the world. This funding is an important step on our roadmap.”
The EmboTrap Revascularization Device is engineered to restore blood flow to the brain by retrieving clot with a proprietary dual-layer stent-like structure. The device’s integrated distal protection zone is designed to reduce the risk of clot fragmentation during retrieval, which could cause additional harm to the patient. The EmboTrap II Revascularization Device is available in Europe to treat patients with acute ischemic stroke. The EmboTrap is currently available for investigational use only in the U.S. under the ARISE II clinical trial, which will support a U.S. Food and Drug Administration (FDA) submission for approval to market the device in the United States.
Neuravi designs, develops and manufactures innovative medical devices for the treatment of acute ischemic stroke. Through the Neuravi Thromboembolic Initiative (NTI), Neuravi supports collaboration between engineers, clinicians and researchers to improve patient outcomes in stroke by deepening the understanding of the science of clot and occlusions. Neuravi is exclusively focused on acute ischemic stroke. More information can be found at www.neuravi.com.
IPF Partners, based in Luxembourg, is a leading alternative financing provider focused on the healthcare sector. IPF invests directly in emerging pharma/biotech, medtech and diagnostics companies. Founded in 2011 by a seasoned multi-disciplinary team combining over fifty years of finance and investment and over thirty years of healthcare experience, IPF has developed a unique business model using the team’s specialist sector knowledge to provide bespoke, long-term financing. For more information visit www.ipfpartners.com.