CereVasc Announces $85 Million Series C for Novel eShunt System to Treat Normal Pressure Hydrocephalus
Summary
CereVasc, a clinical-stage medical device company developing minimally invasive treatments for neurological diseases, completed the initial closing of an $85 million Series C financing. The round was led by Piper Sandler Merchant Banking with participation from Johnson & Johnson Innovation - JJDC, Inc., and Medtronic, along with existing investors Bain Capital Life Sciences and Perceptive Xontogeny Venture Funds. Proceeds will support the ongoing STRIDE pivotal trial in Normal Pressure Hydrocephalus patients.
Why it matters
This round is significant as it brings two major strategics (J&J and Medtronic) into a neurology device company focused on a large and underserved patient population. The eShunt system represents a potential paradigm shift from invasive ventriculo-peritoneal shunting to an endovascular approach for NPH treatment.
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