Route 92 Medical Secures $50M to Advance Stroke Treatment Tech
- Route 92 Medical raised an additional $50 million, bringing its Series F funding to $82 million, with Novo Holdings joining as a new investor.
- The funds will accelerate the global expansion of its neurovascular products for stroke treatment and seek regulatory approvals.
- Novo Holdings' Noel Jee joins the board, bringing life sciences expertise to aid Route 92's growth and commercialization efforts.
Route 92 Medical, Inc., a private company focused on advancing neurovascular intervention technology, has announced a $50 million extension to its oversubscribed Series F funding, bringing the total to $82 million.
We are thrilled to announce a new $50 million extension to our previously announced oversubscribed Series F financing, bringing the total raised to $82 million. #PoweredbyTenzing #FreeClimb #Monopoint #Route92Medical https://t.co/Tusn0MXgeb pic.twitter.com/enwMndMAa6
— Route 92 Medical (@route92med) September 23, 2024
Novo Holdings joined existing investors, including U.S. Venture Partners, Norwest Venture Partners, InnovaHealth Partners, and The Vertical Group, in backing this round. As part of the investment, Noel Jee, Partner of Growth Investments at Novo Holdings US, has joined the Route 92 Board of Directors. Jee brings over a decade of experience in life sciences investment and consulting.
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“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, Chief Executive Officer 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.”
The funds will be used to accelerate the global rollout of the company’s neurovascular products and seek regulatory approvals in new markets. Route 92 Medical has developed a streamlined approach to neurovascular intervention, featuring a range of reperfusion and access systems built around its patented Tenzing delivery catheter.
These systems are designed to improve the efficiency of endovascular thrombectomy, helping doctors restore blood flow quickly in patients suffering from acute ischemic stroke, the most common form of stroke.
Edited by Harshajit Sarmah
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