Rapid Medical, a Yokneam, Israel-based company focused on the development of interventional neurovascular devices, completed a Series C financing of $20m.
The round was led by JAM Capital Partners and MicroPort with participation from Agate JT, RocSon Medtech Fund and existing investors. In conjunction with the funding, John McCallum, Managing Partner at JAM, and Mr. Bruce Wang of MicroPort, will join Rapid Medical’s board of directors.
The company intends to use the funds to:
– develop a commercial presence in the U.S. ahead of regulatory approvals,
– expand its sales and marketing efforts in Europe,
– develop additional innovative products, and
– support the completion of TIGER IDE study in the U.S., which has been successfully enrolling patients since May 2018.
Led by Ronen Eckhouse, CEO and co-founder, Rapid Medical is developing devices for endovascular treatments. It is the maker of:
– TIGERTRIEVER, a controllable, fully visible stentriever that is designed to treat ischemic stroke patients, and,
– COMANECI, a controllable aneurysm neck-bridging device.
TIGERTRIEVER and COMANECI are CE marked for use in Europe.
In addition, the company and MicroPort have entered into a partnership granting MicroPort the marketing rights for Rapid Medical’s TIGERTRIEVER and COMANECI products in China.