Route 92 Medical announced that it secured $50 million in growth financing to support its neurovascular intervention offerings.
New investor Sectoral Asset Management joined lead investor Novo Holdings in the financing. Existing investors U.S. Venture Partners, Norwest Venture Partners, InnovaHealth Partners and the Vertical Group participated, too.
Related: Beacon Biosignals upsizes Series B to $97M
West Jordan, Utah-based Route 92 plans to use the proceeds from the financing to support its next phase growth. It intends to accelerate global commercial expansion, advance clinical. evidence and invest in continued product innovation. The company wants to continue to support broader adoption of its neurovascular procedural approach.
Route 92 develops a wide-ranging neurovascular portfolio, including the HiPoint reperfusion system, which features the Monopoint approach. The company describes it as the first “super-bore” aspiration catheter with a mono-axial procedural approach and a 0.088-inch inner diameter FDA-cleared for the treatment of large vessel occlusions, the cause of many acute ischemic strokes. Real-world data shared last year supports the use of the system in direct aspiration of a stroke-causing thrombus.
“We’ve seen rapid growth in the adoption of our products over the past year, attributable to the clinical performance of our Monopoint approach, and the growth and dedication of our commercial organization,” said Dr. Tony Chou, CEO and founder of Route 92 Medical. “We’re on a mission to improve outcomes for patients suffering from acute ischemic stroke and our rapidly growing sales are a testament to the differentiated, physician-preferred attributes of our neurovascular thrombectomy solutions.”
