MIAMI – RapidPulse, Inc., a privately-held medical device company developing a novel aspiration system to treat ischemic stroke, today announced that it has raised an additional $10.5 million, bringing its cumulative financing to over $25 million. The financing was led by Syntheon and Santé Ventures who were joined by Epidarex Capital, Hatteras Venture Partners, and Broadview Ventures. RapidPulse plans to use the proceeds to further advance its RapidPulse™ Cyclic Aspiration System through expanded clinical evaluation, which in turn will further the development of its platform of new catheters and aspiration pump, and to move towards FDA approval.
“RapidPulse has built an excellent team and taken great strides in developing our technology and system architecture; we’ve had three seminal patents issued to protect our intellectual property and we’ve received excellent feedback from some of the leading ischemic stroke physicians,” noted Sean McBrayer, who serves as the CEO of RapidPulse as well as CEO of Syntheon. “In addition, our early clinical results have been outstanding. As disclosed at a recent industry conference, initial testing of our technology has shown first pass clot removal of up to 69% of the time, a dramatic improvement over standard aspiration. We are also particularly pleased and gratified that our established investor syndicate was enthusiastic about increasing the company’s funding to build on our progress.” The referenced study was a Pilot Study of 29 patients with reported First Pass Success (FPE) using mTICI ≥ 2c.
Dennis McWilliams, Partner at Santé Ventures, added, “Stroke is the second leading cause of death and the third leading cause of disability worldwide. This investment will help RapidPulse expand its clinical results and move towards regulatory approval in the United States. The RapidPulse™ system promises to be a disruptive platform in neurovascular, and it has the clear potential to improve timely first-pass clot removal, thereby significantly improving patient outcomes for ischemic stroke patients. This financing will help RapidPulse build a leading position in the emerging field of cyclic aspiration for the treatment of ischemic stroke.”
To learn more about RapidPulse, please visit www.rapidpulsemed.com.
RapidPulse, Inc. is a privately held medical device company that develops minimally invasive vascular products for ischemic stroke. The company is advancing the development of the RapidPulse™ Cyclic Aspiration System, which includes a novel aspiration system to allow rapid and consistent removal of blood clots from the brain. The RapidPulse™ system is not available for sale in any jurisdiction and continues to be tested and evaluated through investigational studies. RapidPulse is a spinout of Syntheon 2.0, LLC., a medical device incubator dedicated to developing innovative products in the medical device industry. Visit www.rapidpulsemed.com for more information.
The RapidPulse™ system was developed by Syntheon, a medical device incubator focused on developing next generation medical devices. Its various products, commercialized by the largest and most trusted medical device companies in the world, have treated over 50 million patients globally in applications ranging from laparoscopic surgery, cardiovascular treatment, and flexible endoscopy. Syntheon has over 200 issued patents since its inception over 20 years ago.
ABOUT SANTÉ VENTURES
Founded in 2006, Santé Ventures is a specialized healthcare and life sciences investment firm with nearly $1BN in capital under management. The firm invests in early-stage companies developing innovative new medical technologies, biotechnologies, and digitally enabled healthcare services. Recent Santé successes include Farapulse (Boston Scientific), Claret Medical (Boston Scientific), TVA Medical (Becton Dickinson), Millipede Medical (Boston Scientific), Molecular Templates (MTEM), AbVitro (Celgene), and Explorys (IBM Corp). Santé invests nationally and has offices in Austin, TX, and Boston, MA. For more information, please visit www.sante.com.
ABOUT EPIDAREX CAPITAL
Epidarex Capital is a transatlantic venture capital firm that builds exceptional life science companies in emerging hubs in the US and UK. Epidarex’s experienced team of early-stage investors partner with entrepreneurs and leading research institutions to transform world-class science into highly innovative products addressing major unmet needs in global healthcare. For more information, please visit www.epidarex.com
ABOUT HATTERAS VENTURE PARTNERS
Founded in 2000 and based in Durham, NC, Hatteras Venture Partners is a venture capital firm with a focus on seed and early-stage healthcare investing. Through seven funds and over $750 million under management, the firm has invested in breakthrough science and entrepreneurial grit in the areas of biopharmaceuticals, medical devices, diagnostics, healthcare IT, and related opportunities in human medicine. To learn more, please visit www.hatterasvp.com.
ABOUT BROADVIEW VENTURES
Founded in 2008, Broadview Ventures is a mission-driven investment organization. Broadview’s primary goal is to improve human health in the areas of cardiovascular disease and stroke through investments in early-stage companies developing innovative therapeutics, devices, and diagnostics. For more information about Broadview Ventures, visit broadviewventures.org.