Neuravi, a Galway, Ireland-based company dedicated to improving clinical outcomes for stroke patients, completed a €19M ($21M) Series B financing.
The round was led by European private equity firm LSP (Life Sciences Partners), with participation from Fountain Healthcare Partners, Delta Partners and the Western Development Commission. As part of the financing, Anne Portwich and René Kuijten, partner, LSP, will join Neuravi’s board of directors.
The company intends to use the funds to advance its minimally invasive thrombectomy device for acute ischemic stroke, the EmboTrap® Revascularization Device. The funding will support European commercialization of the EmboTrap device, as well as Neuravi’s clinical trial, ARISE II, which will begin enrolling patients this year at select centers in the United States and Europe.
Led by Eamon Brady, CEO, Neuravi develops the EmboTrap Revascularization Device, whose design is informed by extensive research into a full range of clots that cause ischemic stroke. With this foundation of research, the EmboTrap device is engineered to retrieve and retain the clot with a proprietary dual-layer stent-like structure while restoring blood flow to the brain. The device’s integrated distal protection zone is designed to reduce the risk of fragments of clot dislodging during retrieval, which could cause additional harm to the patient.
It is CE marked, and commercially available in Europe, while it is for investigational use only in the United States.