Blockade Medical Receives Financing, Forms Joint Venture for China

October 27, 2015—Blockade Medical LLC, a privately held company focused on the development of catheter-based therapeutic devices for the treatment of cerebral aneurysms and ischemic stroke, announced the closing of a round of equity financing. The company also announced the formation of a joint venture for future manufacturing of Blockade devices for the Chinese marketplace.

According to Blockade Medical, the funds will support the continued commercialization of the Barricade coil system. The funds will also be used for the continued development of novel neurovascular devices for the treatment of aneurysms, stroke, and other neurovascular conditions. The financing was composed of existing investors and new investment from TitanMed Capital and GP Healthcare Capital, which are venture capital and private equity funds dedicated to health care investments.

The Barricade coil system is an endovascular embolization coil line designed to occlude blood flow in vascular abnormalities of the neurovascular and peripheral vessels. The comprehensive bare platinum coil line is available in framing, filling, and finishing shapes. The Barricade coil system received European CE Mark approval in July 2012 and US Food and Drug Administration 510(k) clearance in March 2013, advised the company.