April 22, 2019
Rapid Medical Receives Financing to Support Development of Stroke Treatment Devices
April 23, 2019—Rapid Medical, an Israel-based developer of interventional neurovascular devices, announced it has raised funds that will be used for the completion of the TIGER United States investigational device exemption study, which has been successfully enrolling patients since May 2018.
The Series C financing of $20 million will also support the worldwide commercial growth of the company's minimally invasive stroke treatment and prevention products. Rapid Medical is developing its commercial presence in the United States ahead of regulatory approvals, expanding the company's sales and marketing efforts in Europe, and developing additional products.
In addition, Rapid Medical announced that it has entered into a partnership with MicroPort Scientific Corporation that grants MicroPort the marketing rights for Rapid Medical's Tigertriever and Comaneci products in China.
Rapid Medical's Tigertriever is a controllable, fully visible stentriever that is designed to treat ischemic stroke patients. Comaneci is a controllable aneurysm neck-bridging device. Both devices have received CE Mark approval for use in Europe, advised the company.