(image: Korea Bizwire)
MIAMI, June 23 (Korea Bizwire) — RapidPulse, Inc., a privately-held medical device company developing a novel aspiration system to treat ischemic stroke, today announced the closing of a $15 million Series A financing. The financing was led by Santé Ventures who was joined by Epidarex Capital, Hatteras Venture Partners, Broadview Ventures, and Syntheon. RapidPulse plans to use the proceeds to advance its RapidPulse™ Cyclic Aspiration System through expanded clinical evaluation and build out its platform of proprietary catheters.
The RapidPulse™ system was developed by Syntheon, a medical device incubator focused on developing next generation medical devices. Their 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, and flexible endoscopy. Syntheon has over 200 issued patents since its inception over 20 years ago.
“We are pleased to have partnered with an outstanding investor syndicate to move our RapidPulse™ technology forward in the clinic,” said Sean McBrayer, CEO of Syntheon who will also serve as initial CEO of RapidPulse. “Stroke is the second leading cause of death and the third leading cause of disability worldwide, and minutes matter in improving these outcomes. This investment will help us expand our clinical results and move towards regulatory approval in the United States.”
Joining the team are industry veterans Heather Harries and Cynthia Yang. Heather most recently served as General Manager for Terumo’s aortic business and will lead product development and operations for RapidPulse. Cynthia will lead clinical development for the company, after most recently working in the neurovascular division of Medtronic.
Dennis McWilliams, partner at Santé Ventures, added, “Heather and Cynthia bring exceptional domain expertise to the team at RapidPulse, and will complement the significant engineering development experience at Syntheon. RapidPulse is a disruptive platform opportunity in neurovascular, and has the potential to significantly improve patient outcomes for ischemic stroke patients.”
ABOUT RAPIDPULSE
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 pump to allow rapid and consistent removal of blood clots from the brain. RapidPulse is a spinout of Syntheon LLC., a medical device incubator dedicated to developing innovative products in the medical device industry. Visit www.rapidpulsemed.com for more information.
ABOUT SANTÉ VENTURES
Santé Ventures is a life sciences investment firm that invests in early-stage companies in medical device, biotechnology, and digitally enabled health services. We partner with entrepreneurs to build impactful companies, including Claret Medical (now part of Boston Scientific), TVA Medical (Becton Dickinson), Millipede Medical (Boston Scientific), and Molecular Templates (NASDAQ: MTEM). Founded in 2006, Santé has just under $1 billion in assets under management, and has offices in Austin, TX and Boston, MA. For more information, please visit 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 six funds and over $600 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.
MEDIA CONTACT:
Sean McBrayer, info@rapidpulsemed.com, 305-266-3388
Source: RapidPulse, Inc via GLOBE NEWSWIRE
