Rapid Medical Receives Funding to Advance Commercialization of Stroke Treatment Devices
July 17, 2017—Rapid Medical, an Israel-based company focused on the development of neurovascular interventional devices, announced that it has completed a Series B financing of $9 million to advance the commercialization of the company's minimally invasive stroke treatment and prevention products, the Tigertriever revascularization device and the Comaneci adjustable remodeling mesh. The round was led by BRM group from Israel and Shanghai-Israel Investment Fund from China, with participation from Winnovation and Gefen Capital.
The funding will support regulatory clearance in the United States, as well as continuing to advance the European commercialization of both devices. Specifically, the funding will support initiation of the company's TIGER clinical trial, which will begin enrolling patients in the first half of 2018 at selected leading centers in the United States, Europe, and Israel.
According to Rapid Medical, Tigertriever is a controllable, fully visible stentriever that can be adjusted by the physician to fit the dimensions of blocked blood vessels that cause acute ischemic stroke. Comaneci is a controllable, fully visible aneurysm neck–bridging mesh device that does not require parent vessel occlusion. It is intended to provide temporary assistance for embolization of intracranial aneurysms.