Rapid Medical, a Yokneam, Israel-based company focused on the development of responsive, adjustable neurovascular devices, closed a Series D financing of $50M.
The round was led by MicroPort with participation from CITIC private equity fund (CPE), Deep Insight and existing investors. As part of the financing round, Chen Chen, a principle at CPE, will join Rapid Medical’s board of directors.
The company intends to use the funds to:
- commercialize growth of its minimally invasive stroke products worldwide in US and Europe,
- create additional clinical evidence,
- advance the product development pipeline utilizing its proprietary braiding technology platform,
- obtain regulatory approvals in new strategic territories such as China.
Led by Ronen Eckhouse, co-founder and CEO, Rapid Medical develops interventional devices for endovascular diseases such as ischemic and hemorrhagic stroke. Utilizing novel manufacturing techniques, the company’s products are remotely adjustable and fully visible. This enables physicians to respond in real-time to the intravascular environment and have greater control over procedural outcomes. TIGERTRIEVER™ 17 and 21, COMANECI™ and COLUMBUS™/DRIVEWIRE are CE marked and FDA cleared. TIGERTRIEVER™ 13 and XL are also CE marked.