Israel-based neurovascular device developer Perflow Medical said it closed a $12 million round of financing to help support its Stream dynamic neuro-thrombectomy net designed for treating acute ischemic stroke.
Funding from the round will support the European commercialization of the company’s first product, the Stream Net device, and a 510(k) submission to the FDA in pursuit of US approval.
Funds will also help support development of two new products based off the company’s Cerebral Net technology platform for aneurysm neck bridging and flow diversion procedures.
The Stream Net device is designed to treat acute ischemic stroke and offers full device control of the braided net diameter, length and radial force for dynamic wall apposition and improved clot retention during revascularization procedures, the company said.
“The Stream Net offers a new level of control that expands a physician’s options to respond in real-time. My early experience with the system has been positive and I see it as a valuable addition to the market,” Dr. Marc Ribó of Barcelona, Spain’s Hospital Vall d’Hebron said in a prepared statement.
The round was joined by existing investors, two new international investors and an unnamed strategic investor, Perflow Medical said.
“This financing is a significant step and reflects the strong commitment our investors have to Perflow and the value of our proprietary Cerebral Net technology to empower physicians to improve outcomes. The clinical experience of the Stream Net device in Europe has been very encouraging and these funds will accelerate our ability to bring this life-saving technology to the market and continue to iterate novel neurovascular solutions using Cerebral Net technology,” CEO Danny Farin said in a press release.
Steve MacMillan took over as CEO of Hologic in 2013, drawing on his experience at medtech titans like Stryker and Johnson & Johnson. Since then, Hologic has grown into a $3 billion business.
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