Jupiter Endovascular has emerged from stealth with $21m in new financing as the company looks to forge its new type of endovascular procedure.
US-based Jupiter is developing the endoportal procedure, which uses a namesake device called the Endoportal Control that can be fixed into a stable state to deliver “interventional treatment with surgical-like precision and control from an endovascular access point.”
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Sonder Capital was a key participant in the round, which also had participation from multiple strategic investors.
According to Sonder Capital managing partner Kate Garrett, Jupiter’s technology overcomes certain limitations of current catheter-based therapies including stability and control within vasculature.
Jupiter has installed Carl J. St. Bernard as CEO who has previous experience at company including GE HealthCare and Johnson & Johnson Vision. St. Bernard was most recently CEO of Alta Biomaterials, a company that makes biocompatible medical device coatings.
St. Bernard stated the company aims to enter the pulmonary embolism market first, and then “future clinical areas where we see a compelling opportunity for Endoportal Control.”
The funds raised from the financing will go towards a pivotal trial for pulmonary embolism andadditional clinical applications of the technology
Jupiter did not immediately respond to a request for comment on the upcoming pivotal trial.
The cardiovascular device market was worth $68.5bn in 2023, with it expected to grow to $116.8bn by 2033, growing at a CAGR of 5.5%, according to analysis by GlobalData. The clot management device market in the US was worth $1.2bn in 2023, with Boston Scientific and Inari Medical market leaders.
Jupiter Endovascular is a subsidiary of Neptune Health, which announced a $97m Series D financing round on the same day Jupiter exited stealth. Neptune Health, which focuses on robotics for gastrointestinal indications, said the funding would allow Jupiter to focus on endovascular technologies.
Neptune’s chairman of the board Dr. Fred. Moll said Jupiter’s spin out is a “strategic move that aligns with our long-term goals” and that Neptune would “continue to push the boundaries in gastrointestinal robotics.”
