Emboline’s new financing could help jumpstart the company into a clinical trial and launch of its embolic protection device used in connection with Transcatheter Aortic Valve Replacement. The Santa Cruz, CA-based company said it has raised more than $55 million in a series D financing.
Emboline has developed the Emboliner, a total embolic protection catheter, a 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.
The Emboliner is a cylindrical mesh filter that completely lines the aorta. The design allows the device to have more reliable positioning across the cerebral vessels and is simple to put in, the company said.
This financing 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.
The financing 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 Emboline’s board.
In a release, Xiao 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."