CereVasc Financing Will Advance eShunt System to Treat Normal Pressure Hydrocephalus

June 5, 2026—CereVasc, Inc. announced it has completed the initial closing of an $85 million Series C financing. The clinical-stage medical device company is developing minimally invasive treatments for neurological diseases.

According to the company, proceeds from the financing will fund continued clinical and regulatory development of CereVasc’s investigational eShunt system, including the ongoing STRIDE pivotal trial in patients with normal pressure hydrocephalus. The device has not been approved by FDA or any other regulatory agency for commercial sale.

CereVasc will also advance organizational growth and operational scale-up as it moves toward commercialization, noted the press release.

STRIDE is a prospective, multicenter, randomized, controlled trial designed to evaluate the safety and effectiveness of the eShunt compared to the current standard of care, the ventriculo-peritoneal shunt. The study is intended to support a future premarket approval submission to the FDA, advised the company.

The financing was led by Piper Sandler Merchant Banking with participation from Johnson & Johnson Innovation–JJDC, Inc., which is Johnson & Johnson's corporate venture capital arm, and Medtronic, along with existing investors Bain Capital Life Sciences and Perceptive Xontogeny Venture Funds.

In conjunction with the closing, the company announced additions to its Board of Directors: Kevin Conroy, Lead Independent Director; Christopher Geyen, independent director and Chair of the Audit Committee; and Tom Schnettler of Piper Sandler Merchant Banking, representing the new Series C investors.