Route 92 Medical announced it added a $50 million extension to its oversubscribed Series F financing round. The extension brings the total funding in the Series F round to $82 million. Novo Holdings joined returning investors U.S. Venture Partners, Norwest Venture Partners, InnovaHealth Partners and The Vertical Group in the financing. In connection with the investment, Noel Jee, a partner for growth investments at Novo Holdings, joins the Route 92 board.
Related: Openwater raises $100 Million in total funding
San Mateo, California-based Route 92 plans to use proceeds to accelerate global commercialization efforts for its neurovascular intervention portfolio. The company also aims to put the funds toward regulatory authorizations in new geographies.
Route 92 develops a suite of reperfusion and access systems leveraging the patented Tenzing delivery catheter. The products aim to improve the efficiency of endovascular thrombectomy procedures. The company designed its technology to enable the quick restoration of blood flow to the brain following acute ischemic stroke.
Within the neurovascular portfolio at Route 92 is the FreeClimb 70 and FreeClimb 54 reperfusion systems. Additionally, the company offers the FreeClimb 88 catheter system and has an ongoing clinical study evaluating its HiPoint 88 and HiPoint 70 reperfusion catheters as part of the Monopoint reperfusion system.
“Our company is focused on improving outcomes for patients suffering from acute ischemic stroke, and we are continuing to build our industry-leading commercial and support teams to bring our Tenzing, FreeClimb, HiPoint, and Monopoint products to the market,” said Tony Chou, CEO and founder at Route 92 Medical. “Novo Holdings’ investment validates our clinical and commercial performance and will help us better serve patients and our interventionalist customers.”
