Evasc Neurovascular Enterprises ULC, a Vancouver, Canada-based medical device company focused on the development of endovascular treatments for cerebral aneurysms, closed a CAD $10m Series A venture capital financing.
The round was led by Yonghua Investment Management Co., Ltd., with participation from existing investors.
The company, which has raised a total of CAD $27m, will use the funds for the development and commercialization of its system.
Led by Dr. Donald Ricci, President and Chief Executive Officer, Evasc Neurovascular is a medical device company focused on the development of endovascular treatments for cerebral aneurysms. The company received approval for use of eCLIPs – a patented endovascular device designed to treat 95% of cerebral aneurysm cases, and is currently targeted for use in challenging wide-neck bifurcations – in Canada under the Special Access Program in 2013, and received CE mark approval in 2015.
To date, eCLIPs has been used to treat cerebral aneurysms in over 40 patients in Canada and 8 European countries.