By Nancy Dahlberg
RapidPulse, a Miami-based medical technology startup, announced that it has secured just over $10.5 million to further advance its innovative stroke therapies.
The financing round was led by Syntheon and Santé Ventures. Epidarex Capital, Hatteras Venture Partners and Broadview Ventures also joined the round. Last year, RapidPulse raised a $15 million Series A round, bringing the company’s total funding to over $25.5 million.
RapidPulse develops minimally invasive vascular products for ischemic stroke. The medical device 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. RapidPulse plans to use funding proceeds to further advance its RapidPulse system through expanded clinical evaluation, on the road to 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,” Sean McBrayer, CEO of RapidPulse as well as CEO of Syntheon, said in a statement. “In addition, our early clinical results have been outstanding.”
McBrayer disclosed at a recent industry conference that initial testing demonstrated first-pass clot removal up to 69% of the time. He said this represents a “dramatic improvement” over standard aspiration.
“Stroke is the second leading cause of death and the third leading cause of disability worldwide,” said Santé Ventures Partner Dennis McWilliams. “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.”
In South Florida, healthcare-related ventures, including ones in heathtech, biotech and life sciences, attracted $1.1 billion in investor capital last year and healthcare technology was the second most active sector for South Florida venture capital, behind fintech. Though funding levels have slipped so far this year for healthcare technology companies, deal activity has continued to be strong.
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Follow Nancy Dahlberg on Twitter @ndahlberg and email her at [email protected]
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