Emboline will use the investment to carry out FDA clinical trial, manufacturing and commercial operations for its product Emboliner
Emboline gets funding to commercialise its Emboliner. (Credit: Ignacio DG from Pixabay.)
Emboline has received more than $55m in a Series D funding round led by new investors Matrix Capital Management, alongside an undisclosed investor.
The company’s existing investors, including SV Tech, ShangBay Capital, and Global Assets Investment, have also participated in the investment round.
As part of the financing, Matrix Capital Management principal Eric Xiao along with a representative from the undisclosed investor will be appointed as the Emboline board of directors.
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.”
The US-based medical device company is focused on reducing stroke and other damage caused by embolic debris released during transcatheter heart procedures.
It has developed Emboliner, an embolic protection catheter designed to reduce the risk of stroke from transcatheter aortic valve replacement (TAVR).
The company intends to use the investment to support the planned US clinical trial for the US Food and Drug Administration (FDA) approval, investigational studies for new indications, manufacturing and commercial operations for Emboliner.
Emboliner leverages a cylindrical nitinol mesh filter that captures and removes embolic debris released into the bloodstream during TAVR and other heart procedures.
The catheter is deployed through an existing femoral artery access site and it conforms to the aortic arch, said the company.
Furthermore, a previous SafePass 2 clinical study demonstrated the initial evidence of safety and effectiveness for the Emboliner catheter.
Emboline president and CEO Scott Russell said: “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.”