Neuravi Receives Funding to Support Commercialization of EmboTrap Device

June 17, 2015 — Neuravi announced today that it has completed a Series B financing of €19 million ($21 million) to advance the company’s minimally invasive thrombectomy device for acute ischemic stroke, the EmboTrap revascularization device. The funding will support European commercialization of the EmboTrap, as well as Neuravi’s ARISE II clinical trial, which will begin enrolling patients this year at select centers in the United States and Europe.

According to Neuravi, which is based in Galway, Ireland, the EmboTrap device is engineered to retrieve and retain the clot with a dual-layer stent-like structure while restoring blood flow to the brain. The device’s integrated distal protection zone is designed to reduce the risk of fragments of clot dislodging during retrieval. 

A case series presented at the European Stroke Organization Congress earlier this year evaluated use of the EmboTrap device in 42 stroke patients at two European centers. Treatment with the device restored significant blood flow in 86% of patients, with the majority of patients recovering to be able to function independently, advised the company.

The funding round was led by European private equity firm LSP (Life Sciences Partners), with participation from returning Series A investors Fountain Healthcare Partners, Delta Partners, and the Western Development Commission.