Rapid Medical, a Yokneam, Israel-based company focused on the development of neurovascular interventional devices, closed a $9m Series B financing round.
This round was led by BRM Group and Shanghai-Israel Investment Fund, with the participation of Winnovation and Gefen Capital. As part of this financing round, Alon Maor, a partner at BRM, Dr. Qu Liefeng and Barak Ben Eliezer, will join the board of Rapid Medical.
Led by Dr. Shimon Eckhouse, Chairman, Rapid Medical develops devices for endovascular treatments including TIGERTRIEVER, a visible and controllable stentriever designed to treat patients with ischemic stroke, as well as COMANECI, an aneurysm collar bridging device. The devices are CE marked and can be used in Europe.
The company intends to use the funds to facilitate the approval processes of regulators in the US and pursue marketing efforts of these two devices on the European market. To date, the two products have already been used during neurovascular procedures for thousands of patients.