Neuravi said today it raised $16.7 million (EU €15 million) in a new round of debt financing, with funds slated to support U.S. commercialization and portfolio expansion.
Money in the round came from healthcare alternative financing provider IPF Partners, the Galway, Ireland-based company said.
Funds raised in the round will be invested into the U.S. commercialization of its products and expanding its stroke treatment portfolio, Neuravi said.
“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. 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,” CEO Eamon Brady said in a press release.
In September, Neuravi said it won CE Mark approval in the European Union for its EmboTrap II stent retriever and revascularization device.
The device is a next-gen version of the company’s EmboTrap, and is designed to treat a broader range of clots with sizes that are deliverable through a 0.021″ microcatheter.