Emboline Raises over $55 Million in Series D Funding for Pivotal FDA Clinical Study and Market Launch of the Emboliner™ Embolic Protection Catheter to Minimize Stroke Risk from TAVR
Financing led by Matrix Capital Management with significant investment from an undisclosed strategic investor -- Eric Xiao of Matrix Capital Management to join the Emboline Board of Directors
SANTA CRUZ, Calif., May 25, 2021 /PRNewswire/ -- Emboline, Inc., a privately held medical device company focused on reducing stroke and other damage caused by embolic debris released during transcatheter heart procedures, today announced the closing of its Series D funding of over $55 million. This funding was led by new investors Matrix Capital Management and an undisclosed strategic investor, with additional participation by existing investors, including SV Tech, ShangBay Capital, and Global Assets Investment. In conjunction with the financing, Eric Xiao, Principal at Matrix Capital Management along with a representative for the strategic investor have joined the Emboline Board of Directors. This investment will support a planned US-based pivotal trial for FDA approval as well as investigational studies for new indications, and manufacturing and commercial operations for the Emboliner. SVB Leerink acted as placement agent for the Company.
Transcatheter aortic valve replacement (TAVR) is a lower-risk alternative to open-heart surgery, but debris (emboli) released into the bloodstream during transcatheter heart procedures can cause stroke, cognitive decline and other organ damage in patients. The Emboliner uses a unique cylindrical nitinol mesh filter that is deployed through an existing femoral artery access site and conforms to the aortic arch to capture and remove embolic debris released into the bloodstream during TAVR and other transcatheter heart procedures. A central expanding port in the filter enables passage of all procedure-related devices while maintaining complete embolic protection throughout the entire procedure. The Emboliner provides embolic debris protection for all three major cerebral aortic arch vessels as well the kidneys, abdomen and lower body. Unlike partial embolic protection or deflection devices, the Emboliner is designed to capture and remove all debris generated during transcatheter heart procedures.
Results from the previous SafePass 2 clinical study, presented at TCT Connect 2020, provided the initial evidence of the safety and effectiveness of the Emboliner. In addition, the Emboliner captured and removed over 5 times the debris of the leading commercial TAVR embolic protection device, suggesting the advantages of capturing and removing all embolic debris from such interventional procedures.
Eric Xiao, Principal at Matrix Capital Management said, "The mounting evidence in interventional cardiology demonstrates a clear need for embolic protection in TAVR and other transcatheter-based heart procedures, and Emboline represents best-in-class technology to address these needs. We are excited to support Emboline in bringing highly effective healthcare solutions to patients worldwide."
Scott Russell, President & CEO of Emboline added, "We are excited to have Matrix Capital Management and a major strategic investor join our investor group, and are grateful for the continued support from our existing investors. These additional funds allow us to build on the successful clinical results from our previous SafePass studies, and effectively position Emboline to achieve our clinical and commercial goals and bring the best-in-class Emboliner technology to patients worldwide."
About Emboline
Emboline, Inc., is a privately held medical technology company that has developed the Emboliner™ total embolic protection catheter, the first embolic protection device designed to provide total embolic protection by capturing and removing all debris from transcatheter procedures that would otherwise travel to the brain, kidneys and other critical organs, and reducing the incidence of stroke, cerebral ischemia, cognitive decline and other adverse outcomes associated with procedure-related emboli. Emboline was founded by Amir Belson, MD, who is also the founder of NeoGuide Systems, Vascular Pathways, ZipLine Medical, Radiaction and others. More information is available at www.emboline.com.
The Emboliner™ is not yet commercially available and is intended for investigational use only. Performance specifications and claims are subject to revision pending completion of regulatory approvals. Emboline, Emboliner and SafePass are trademarks of Emboline, Inc.
Media Contact for Emboline: [email protected]
SOURCE Emboline, Inc.
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