CAMPBELL, Calif.--(BUSINESS WIRE)--Imperative Care, Inc. today announced that it has completed the initial closing of a Series C financing of $85 million to support the commercial launch of the company’s portfolio, which is composed of the latest advances in neurovascular devices treating ischemic and hemorrhagic strokes.
The round was co-led by new investors Ally Bridge Group and Bain Capital Life Sciences. Existing Imperative Care investors Ascension Ventures, Delos Capital, Rock Springs Capital, 3H Health Investment, and Incept LLC also strongly participated in the round. Frank Yu, Ally Bridge’s founder, and Andrew Hack, M.D., Ph.D., Managing Director of Bain Capital, will join Imperative Care’s Board of Directors.
“We are thrilled to have Ally Bridge and Bain Capital leading this round of financing at this important stage in our company’s growth. We look forward to Frank and Andrew’s support and guidance as we continue to propel forward Imperative Care’s unique mission,” said Fred Khosravi, Chairman and CEO of Imperative Care. “This is an exciting time for our company. We are poised to launch the industry’s first Large Distal Platform (LDP) access technology and our unparalleled ZOOM™ Aspiration System. In addition, we continue to develop a pipeline of innovations in the continuum of stroke-care, with significant investment and emphasis on clinical evidence.”
Imperative Care has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its family of access catheters designed to facilitate smooth, consistent navigation into blood vessels of the brain. The company has also received FDA clearance for its ZOOM Aspiration System, a family of products designed to facilitate clot removal during ischemic stroke.
Stroke remains a largely unaddressed problem that affects over 800,000 Americans each year.1 The number of deaths due to stroke continues to rise,2 and a recent study published in The New England Journal of Medicine estimates that the global risk of stroke from the age of 25 years onward is approximately 25% among both men and women.3 Treatment options have significantly improved over the last decade, but the need for improved effectiveness and efficiency remains.
Imperative Care was co-founded in 2016 by Dr. Nick Hopkins, a pioneer of endovascular neurointervention and founder and Chief Scientific Officer of Jacobs Institute, and Fred Khosravi, a medtech entrepreneur and innovator. Imperative Care is the twenty-first start-up founded by Khosravi and the Incept LLC medical technology accelerator in the past 21 years.
About Imperative Care, Inc.
Based in Campbell, Calif., Imperative Care is speeding new answers to stroke by developing a portfolio of innovative solutions to address the vast and urgent unmet needs in stroke care. The company is singularly dedicated to improving the way stroke is treated by advancing medical technology, equipping healthcare providers to evolve best practices and elevate the standard of care for stroke patients. For more information, visit http://www.imperativecare.com/.
1Mozzafarian D, Benjamin EJ, Go AS, Arnett DK, Blaha MJ, Cushman M, et al., on behalf of the American Heart Association Statistics Committee and Stroke Statistics Subcommittee. Heart disease and stroke statistics—2016 update: a report from the American Heart Association. Circulation2016;133(4):e38–360.
2 National Center for Health Statistics Mortality Data Report for 2017
3The GBD 2016 Lifetime Risk of Stroke Collaborators, Global, Regional and Country-Specific Lifetime Risks of Stroke, 1990 and 2016. N Engl J Med 2018; 379:2429-2437 DOI: 10.1056/NEJMoa1804492